Rolling coverage of the latest economic and financial news
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
The weakening in Britain’s jobs market has gathered pace, with new data showing the jobless rate has hit its highest level since the Covid-19 pandemic.
“Taken together these figures point to a weakening labour market. The number of people on payroll is falling, with revised tax data now showing falls in most of the last 12 months. Meanwhile the unemployment rate is up in the latest quarter to a post pandemic high. The number of job vacancies, however, remains broadly unchanged.
“Wage growth in the private sector slowed further, but we continue to see stronger public sector pay growth, reflecting some pay rises being awarded earlier than they were last year.”
7am GMT: UK labour market report.
8am GMT: UK grocery inflation report
10am GMT: ZEW eurozone economic confidence index
11am GMT: US NFIB Business Optimism Index
2.30pm GMT: Business Secretary Peter Kyle makes first appearance at Business and Trade committee
Continue reading…Rolling coverage of the latest economic and financial newsGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.The weakening in Britain’s jobs market has gathered pace, with new data showing the jobless rate has hit its highest level since the Covid-19 pandemic.“Taken together these figures point to a weakening labour market. The number of people on payroll is falling, with revised tax data now showing falls in most of the last 12 months. Meanwhile the unemployment rate is up in the latest quarter to a post pandemic high. The number of job vacancies, however, remains broadly unchanged.“Wage growth in the private sector slowed further, but we continue to see stronger public sector pay growth, reflecting some pay rises being awarded earlier than they were last year.”7am GMT: UK labour market report.8am GMT: UK grocery inflation report10am GMT: ZEW eurozone economic confidence index11am GMT: US NFIB Business Optimism Index2.30pm GMT: Business Secretary Peter Kyle makes first appearance at Business and Trade committee Continue reading…