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Wage growth in the UK remained strong in the three months to January against a background of slow employment, according to official data that economists said economists will play the issue for England Bank to maintain interest rates today.
The National Statistics Office said on Thursday that the annual growth in the average weekly profit, with the exception of rewards, which was held by 5.9 percent in the three months to January. The number was in line with economists’ expectations.
Including rewards, wage growth decreased in the period to 5.8 percent, from 6.1 percent in the three months to December.
Separate numbers based on tax records showed that salary employment was flat, with a marginal increase of 9,000 employees between December and January, as companies were concerned about slow economic growth, threatening commercial wars and imminent increases in taxes and minimum wage.
The work grew by only 0.1 percent throughout the year to January. But the temporary figures for the month of February showed some signs of confidence that crawls, with an increase of 21,000, or 0.1 percent a month. The initial estimate of the last month is often reviewed in the past.
The combination of strong wages and the weakest employment represents a challenge to the Monetary Policy Committee, which is expected to maintain interest rates by 4.5 percent when it announced its decision later on Thursday.
“With the cooling of the labor market instead of collapse and collapse in a range of 5.5-6.0 %, we doubt that the Bank of England will reduce interest rates from 4.50 % today,” Ruth Gregory said in the economy. But she added: “All this leaves the bank in a difficult situation.”
MPC is concerned that the job market can deteriorate more, but it has also become more pessimistic about the rate on which the British economy can grow without disturbing price pressures. Inflation reached 3 percent in January, and is scheduled to reach up by mid -year.
And Andrew Billy, the governor of the Bank of England, said last month that there are risks that increasing budget tax could enhance prices and reach more jobs than expected at the beginning, because employers in some sectors were unable to reduce employees ’salaries already on the minimum wage.
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