Unemployment rate hits six-month high amid fears of a stalling economy
8 months, 3 weeks ago

Unemployment rate hits six-month high amid fears of a stalling economy

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Britain’s unemployment rate has risen to its highest level in six months in the latest sign that fears of a stalling economy is affecting the UK jobs market. The Office for National Statistics said the jobless rate jumped to 4.2 per cent in the three months to February - the highest level for nearly six months and up from 3.9 per cent in the three months to January. “Wages lag labour market slack, so these figures will likely embolden the Monetary Policy Committee to begin cutting interest rates this summer.” More timely data from HM Revenue & Customs also revealed that the number of workers on payrolls fell by 67,000, or 0.2 per cent, to 30.3 million in March. The official figures also showed regular wages growth, excluding bonuses, falling back once again, to 6 per cent in the three months to February from 6.1 per cent in the previous three months.

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History of this topic

British economy flatlines in 3rd quarter in another blow to new Labour government
2 weeks, 2 days ago

British economy flatlines in 3rd quarter in another blow to new Labour government

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The British economy flatlined in …

Lower Q2 GDP growth a temporary blip; economy to improve in coming quarters, says Nirmala Sitharaman
3 weeks, 1 day ago

Lower Q2 GDP growth a temporary blip; economy to improve in coming quarters, says Nirmala Sitharaman

The Hindu  

Union Finance Minister Nirmala Sitharaman on Tuesday said the lower-than-expected GDP growth of 5.4% in the second quarter was a "temporary blip" and the economy will see healthy growth in the coming quarters. Replying to a debate in the Lok Sabha on the first batch of Supplementary Demands for Grants, she said India has seen "steady and sustained" growth and …

Australia's unemployment rate falls to 3.9pc in November, its lowest level since March
4 weeks ago

Australia's unemployment rate falls to 3.9pc in November, its lowest level since March

ABC  

Australia's unemployment rate fell to 3.9 per cent in November, down from 4.1 per cent in October. "The only downside to Australia's remarkably strong job market is that any hope of a near-term interest rate cut is over," said Callam Pickering, APAC economist at global job site Indeed. "Today's blockbuster November employment report seemingly pushes back — yet again — …

UK's unemployment rate notches up
1 month, 3 weeks ago

UK's unemployment rate notches up

China Daily  

Workers cross London Bridge, with the City of London financial district seen behind, during the morning rush-hour in London, Britain, Jan 4, 2022. "These figures come against a backdrop of rising concern about spiraling employment costs, which are set to increase following last month's national insurance contributions rise, the employment rights bill, and the latest increase in the national living …

Unemployment in the UK rises to 4.3% and earnings fall to 4.8%
Trending News
1 month, 4 weeks ago

Unemployment in the UK rises to 4.3% and earnings fall to 4.8%

Daily Mail  

Wage growth has fallen to its lowest level in more than two years while Britain's jobless rate jumped by more than expected, according to official figures. The Office for National Statistics said average regular earnings growth eased back to 4.8 per cent in the three months to September, down from 4.9 per cent in the previous three months. Earnings growth …

Rate cut hopes lift on slowdown in UK wage growth
2 months, 3 weeks ago

Rate cut hopes lift on slowdown in UK wage growth

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “A 25 basis point November Bank Rate cut is …

UK economy flatlines in July for second month running
3 months, 4 weeks ago

UK economy flatlines in July for second month running

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy flatlined in …

Economy flatlines as UK sees no growth for second month in a row
3 months, 4 weeks ago

Economy flatlines as UK sees no growth for second month in a row

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK’s economy saw a second month of stagnation in …

UK economy grows 0.6% between April and June as it recovers from recession
4 months, 3 weeks ago

UK economy grows 0.6% between April and June as it recovers from recession

Associated Press  

LONDON — Britain’s economy continued its recovery from recession at the end of last year, with its GDP increasing by 0.6% between April and June, official figures showed Thursday. “The U.K. economy has now grown strongly for two quarters, following the weakness we saw in the second half of last year,” said Liz McKeown, director of economic statistics at the …

UK growth slows slightly in second quarter
4 months, 3 weeks ago

UK growth slows slightly in second quarter

Hindustan Times  

Britain's economy grew 0.6 percent in the April-June period, a slight slowdown compared with the first three months of the year, official data showed on Thursday. UK growth slows slightly in second quarter The country's economy is growing after it exited a mild recession at the end of last year, helped by inflation falling back from four-decade highs. "The new …

Unemployment rate climbs to 4.2 per cent in July despite 58,000 people finding work
4 months, 3 weeks ago

Unemployment rate climbs to 4.2 per cent in July despite 58,000 people finding work

ABC  

The unemployment rate has climbed to 4.2 per cent in July — its highest level since November 2021 — as Australia's economy continues to slow down. "The unemployment rate rose to 4.2 per cent in July, with the number of unemployed growing by 24,000 people and employed by around 58,000. However, that competitive jobs market extends well beyond graduates — …

UK stock markets rise after surprise fall in unemployment
4 months, 3 weeks ago

UK stock markets rise after surprise fall in unemployment

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK’s top stock market …

Slowdown in wage growth ‘clears the path for more interest rate cuts’ by BoE this year
4 months, 3 weeks ago

Slowdown in wage growth ‘clears the path for more interest rate cuts’ by BoE this year

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “This lends some support to our forecast that the Bank …

Unemployment rises again in July, reviving worries of a recession
5 months, 1 week ago

Unemployment rises again in July, reviving worries of a recession

LA Times  

People visit the California Employment Development Department office in Sacramento. U.S. job growth slowed sharply last month and the unemployment rate rose to a nearly three-year high of 4.3%, the latest sign of a cooling labor market, the government reported Friday. Employers added 114,000 jobs in July, well below economists’ projections and down from an average monthly gain of 215,000 …

Economists warn unemployment rate could rise above 5 per cent, with hundreds of applications for individual jobs
5 months, 2 weeks ago

Economists warn unemployment rate could rise above 5 per cent, with hundreds of applications for individual jobs

ABC  

While the jobless rate has been slowly creeping higher, alarm bells are ringing about the potential for a big surge in unemployment. Dr Chapman warned there was a risk Australia's unemployment rate could peak above 5 per cent, which is well above current forecasts, by the end of next year. Jobless rate acceleration a matter of time The obvious question …

Wage growth falls back further but continues to outstrip inflation
5 months, 3 weeks ago

Wage growth falls back further but continues to outstrip inflation

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Office for National Statistics said average regular earnings …

Unemployment edges up despite more than 50,000 extra jobs amid population and participation growth
5 months, 3 weeks ago

Unemployment edges up despite more than 50,000 extra jobs amid population and participation growth

ABC  

Australia's unemployment rate has continued to edge higher, despite the creation of about 50,000, mostly full-time, jobs. "The participation rate in June was only 0.1 percentage point lower than the historical high of 67.0 per cent in November 2023," he noted. "This, along with the continued high level of job vacancies, suggests the labour market remains relatively tight, despite the …

UK economy returns to growth in May
5 months, 4 weeks ago

UK economy returns to growth in May

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. ONS director of economic statistics Liz McKeown said: “The …

Australia's unemployment rate declines to 4 per cent in May, presenting a 'goldilocks' scenario for Reserve Bank
6 months, 3 weeks ago

Australia's unemployment rate declines to 4 per cent in May, presenting a 'goldilocks' scenario for Reserve Bank

ABC  

Australia's headline unemployment rate was 4 per cent in May, down 0.1 percentage points from April. However, ABS data show the "trend" unemployment rate — which looks through the more volatile seasonally adjusted monthly figure — picked up slightly in May, from 3.9 per cent to 4 per cent. "At 4 per cent, the unemployment rate is spot on the …

Australia's unemployment rate rises to 4.1 per cent in April
7 months, 3 weeks ago

Australia's unemployment rate rises to 4.1 per cent in April

ABC  

Australia's headline unemployment rate rose to 4.1 per cent in April, up 0.2 percentage points from March. "This suggests that the labour market remains tight, though less tight than late 2022 and early 2023," said Bjorn Jarvis, ABS head of labour statistics. "The bank will therefore be pleased that overall hours worked fell by 0.8 per cent year-on-year, the first …

Jeremy Hunt tells unemployed Brits there is 'ample opportunity' to find jobs with 900,000 vacancies unfilled - as government targets benefits claimants and 'sicknote' culture
7 months, 3 weeks ago

Jeremy Hunt tells unemployed Brits there is 'ample opportunity' to find jobs with 900,000 vacancies unfilled - as government targets benefits claimants and 'sicknote' culture

Daily Mail  

Ministers today urged the unemployed to step up efforts insisting there is 'ample opportunity' for them to find jobs. Chancellor Jeremy Hunt and Work and Pensions Secretary Mel Stride acknowledged that 'times have undeniably been tough over the last few years', with the impact of Covid and the Ukraine war. But the pair pointed out there are still nearly 900,000 …

Unemployment rises again, taking shine off UK’s emergence from recession
7 months, 3 weeks ago

Unemployment rises again, taking shine off UK’s emergence from recession

The Independent  

After all the excited chatter about Britain’s recovery from shallow recession, we’re back to earth with a bump. It is true that private sector pay rises declined a little, to 5.9 per cent, but the ONS cited an early estimate for April of 6.9 per cent pay growth – thanks in no small part to the scheduled increase in the …

Jobless rate rises to highest for nearly a year, figures show
7 months, 3 weeks ago

Jobless rate rises to highest for nearly a year, figures show

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “At the same time the steady decline in the …

Rate cuts thrown into doubt amid rising wages and US inflation jump
7 months, 3 weeks ago

Rate cuts thrown into doubt amid rising wages and US inflation jump

The Telegraph  

Mr Pill said that inflation was moving in the right direction, having dropped from a peak of 11.1pc in October 2022 to 3.2pc in March. Speaking at the Institute of Chartered Accountants in England and Wales, he said: “It is not unreasonable to believe that through the summer we will begin to see enough confidence in the decline in persistence …

Huge boost for families ahead of the election as UK economy is revealed to be growing at fastest rate in two years
7 months, 4 weeks ago

Huge boost for families ahead of the election as UK economy is revealed to be growing at fastest rate in two years

Daily Mail  

The UK economy is 'going gangbusters' after growing at the fastest rate in two years in a major boost for families ahead of the general election. After the 'shortest and shallowest' recession on record, official figures beat forecasts to show GDP rose by 0.6 per cent in the first quarter of the year – the fastest rate of growth since …

UK no longer in recession after economy grows 0.6% in last quarter
7 months, 4 weeks ago

UK no longer in recession after economy grows 0.6% in last quarter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Jeremy Hunt said the economy …

UK economy exits recession after 0.6% growth in latest quarter
7 months, 4 weeks ago

UK economy exits recession after 0.6% growth in latest quarter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. ONS director of economic statistics Liz McKeown said: “After …

U.K. exits recession with better-than-expected 0.6% GDP growth
7 months, 4 weeks ago

U.K. exits recession with better-than-expected 0.6% GDP growth

The Hindu  

The data will be welcome news for Prime Minister Rishi Sunak who said the economy had “turned a corner” Britain's economy grew by the most in nearly three years in the first quarter of 2024, ending the shallow recession it entered in the second half of last year and delivering a boost to Prime Minister Rishi Sunak ahead of an …

Jobs market 'incredibly tight' despite rise in unemployment
8 months, 3 weeks ago

Jobs market 'incredibly tight' despite rise in unemployment

ABC  

Australia's headline unemployment rate increased slightly to 3.8 per cent in March, after employment fell by 7,000 people and unemployment rose by 21,000 people. "Despite a small drop in employment, Australia's labour market remains incredibly tight," said Callam Pickering, APAC senior economist at global job site Indeed. "The easing in the labour market since late 2022 is most evident in …

UK unemployment soars to six-month high after economy cools
8 months, 3 weeks ago

UK unemployment soars to six-month high after economy cools

Live Mint  

Britain’s unemployment rate rose unexpectedly to the most in six months as the number of jobs in the economy shrank, an indication of cooling in the once red-hot labor market. “Easing pressure in the labor market keeps the Bank on track for a summer rate cut,” said Yael Selfin, chief economist at KPMG UK. Nevertheless, Tuesday’s report showed a deterioration …

Relief for Brits as wages outstrip inflation by biggest margin since 2021 despite signs jobs market is weakening… but inactivity crisis deepens
8 months, 3 weeks ago

Relief for Brits as wages outstrip inflation by biggest margin since 2021 despite signs jobs market is weakening… but inactivity crisis deepens

Daily Mail  

Brits have been offered some much-needed relief as figures showed wages outstripping inflation by the biggest margin in two and a half years. Regular pay rose by 2.1 per cent year-on-year in real terms in the three months to February. The Office for National Statistics said the jobless rate jumped to 4.2 per cent in the three months to February …

Will the US unemployment rate continue at historic lows?
9 months ago

Will the US unemployment rate continue at historic lows?

Al Jazeera  

US job growth has continued at a steady clip in the months since the COVID-19 pandemic, but experts are looking for warning signs. All eyes will be on Friday’s US unemployment numbers to see how many jobs were added in March and whether the unemployment rate continues to stay in its historically low range or if it is time for …

UK economy went into shallow recession in 2023: Official data
9 months, 1 week ago

UK economy went into shallow recession in 2023: Official data

Live Mint  

Britain's economy entered a shallow recession last year, official figures confirmed on Thursday, leaving Prime Minister Rishi Sunak with a challenge to reassure voters that the economy is safe with him before an election expected later this year. "The weak starting point for GDP this year means calendar-year growth in 2024 is likely to be limited to less than 1%," …

Jobs surge sees unemployment rate tumble back to 3.7 per cent
9 months, 2 weeks ago

Jobs surge sees unemployment rate tumble back to 3.7 per cent

ABC  

In short: An additional 116,500 Australians were employed in February, the biggest monthly jobs gain on record, outside of the pandemic period. The unemployment rate has dropped back to 3.7 per cent with more than 116,000 extra Australians in employment last month, compared with January, according to seasonally adjusted data from the Australian Bureau of Statistics. "With employment growing by …

UK probably left recession as economy grows 0.2% in January
9 months, 3 weeks ago

UK probably left recession as economy grows 0.2% in January

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Data released by the Office for National Statistics said that GDP - a measure …

Another burst of hiring shows off the resilience of the US job market
10 months ago

Another burst of hiring shows off the resilience of the US job market

Associated Press  

WASHINGTON — America’s employers delivered another healthy month of hiring in February, adding a surprising 275,000 jobs and again showcasing the U.S. economy’s resilience in the face of high interest rates. The latest figures reflected the job market’s sustained ability to withstand the 11 rate hikes the Fed imposed in its drive against inflation, which made borrowing much costlier for …

UK fell into recession at the end of 2023 as output shrank more than expected in the fourth quarter
10 months, 3 weeks ago

UK fell into recession at the end of 2023 as output shrank more than expected in the fourth quarter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The British economy fell into …

UK economy enters recession in second half of 2023 after shrinking 0.30 per cent
10 months, 3 weeks ago

UK economy enters recession in second half of 2023 after shrinking 0.30 per cent

India TV News  

Britain's economy slipped into a recession during the latter half of 2023, contracting by a more significant-than-anticipated 0.3 per cent in the three months leading up to December. The 0.3 per cent contraction in Britain's economy from October to December came after a 0.1 per cent decline between July and September. The Office for National Statistics reported a 0.1 per …

Unemployment jumps 'quite sharply', passing 4 per cent with scarcely any jobs added in January
10 months, 3 weeks ago

Unemployment jumps 'quite sharply', passing 4 per cent with scarcely any jobs added in January

ABC  

In short: The unemployment rate rose to 4.1 per cent in January, from 3.9 per cent in December. "This was the first time in two years, since January 2022, that the unemployment rate had been above 4 per cent," noted the bureau's head of labour statistics Bjorn Jarvis. Treasurer Jim Chalmers said the rise in the unemployment rate was an …

Pay rising too fast for interest rate cut, economists warn
10 months, 3 weeks ago

Pay rising too fast for interest rate cut, economists warn

The Telegraph  

The number of people kept out of the jobs market by long-term sickness remains near an all-time high, ONS figures showed. One person in every 15 of working age – 6.6pc, equivalent to 2.8 million people – said ill health kept them from working or from looking for a job in the final quarter of 2023. Government must do more …

Britain’s workforce crisis deepens as one in five employers struggle to fill roles
10 months, 4 weeks ago

Britain’s workforce crisis deepens as one in five employers struggle to fill roles

The Telegraph  

The National Institute of Economic and Social Research warned last week that businesses have become “frustrated” with British workers. The number of firms registering to become sponsors to hire abroad has doubled since 2022, as more than nine million people of working age have dropped out of the jobs market. “Employer attention is shifting from helping staff weather the cost-of-living …

UK economy at risk of recession after surprise third quarter decline
1 year ago

UK economy at risk of recession after surprise third quarter decline

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “The broader picture, though, remains one of an economy …

U.S. employers add a solid 199,000 jobs and unemployment falls, signaling a still-sturdy labor market
1 year, 1 month ago

U.S. employers add a solid 199,000 jobs and unemployment falls, signaling a still-sturdy labor market

LA Times  

Mechanic David Stoliaruk works on the engine of a car at IC Auto in Philadelphia on May 2. The nation’s employers added a solid 199,000 jobs last month and the unemployment rate fell, fresh signs that the economy could achieve an elusive “soft landing,” in which inflation would return to the Federal Reserve’s 2% target without causing a steep recession. …

Unemployment rate unchanged but signs point to cooling jobs market
1 year, 2 months ago

Unemployment rate unchanged but signs point to cooling jobs market

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK jobless rate remained …

Recession looming as jobs market weakens, says Bank rate-setter
1 year, 2 months ago

Recession looming as jobs market weakens, says Bank rate-setter

The Telegraph  

Ms Dhingra was speaking as economists said official data showing a slowdown in pay growth would fuel hopes the Bank of England has raised rates far enough to weaken the jobs market and ease a key driver behind inflation. Average weekly earnings in the three months to August were up 8.1pc compared with the same period last year, slowing from …

UK interest rates stay at 5.25% in surprise move by Bank of England
1 year, 3 months ago

UK interest rates stay at 5.25% in surprise move by Bank of England

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “We need to be sure inflation returns to normal and we will continue to …

UK slumps into the red with GDP dropping 0.5% in July as families and businesses struggle to cope with soaring interest rates... amid fears BoE is poised for more hikes
1 year, 3 months ago

UK slumps into the red with GDP dropping 0.5% in July as families and businesses struggle to cope with soaring interest rates... amid fears BoE is poised for more hikes

Daily Mail  

The UK has slumped into the red as spiking interest rates and dire weather hammered activity in July. Grim figures showed GDP dropped 0.5 per cent - far worse than the 0.2 per cent expected by analysts and the biggest fall since last December. Grim figures showed GDP dropped 0.5 per cent in July - far worse than the 0.2 …

Economy not out the woods despite bigger-than-expected jump in June, experts say
1 year, 4 months ago

Economy not out the woods despite bigger-than-expected jump in June, experts say

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. This underwhelming rebound in quarterly UK GDP highlights the …

Britain faces years of stagnation because of high interest rates, economists warn
1 year, 5 months ago

Britain faces years of stagnation because of high interest rates, economists warn

The Telegraph  

Britain is facing a prolonged economic slump caused by higher interest rates, economists have warned, with the battle against inflation set to weigh on growth for years to come. In its latest quarterly update, the group said the economy is set to grow by 0.8pc next year, less than half its previous prediction of 1.9pc. Martin Beck, chief economic adviser …

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