Rise in UK unemployment and slowing wage growth add new pressure for interest rate cut

ONS data shows jobless rate climbing to highest rate since June 2021 with growth in average earnings slowing to 5%.Business live – updatesUnemployment climbed and wage growth fell in the three months to May, according to official figures that will put pressure on the Bank of England to cut interest rates next moth.Data from the Office for National Statistics, released on Thursday, showed that Britain’s official unemployment rate rose to 4.7% in the three months to May, up 0.1% from April. Continue reading...

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