Unemployment rises as pay growth slows again
Published On Nov 12, 2024, 2:17 AM
The UK's unemployment rate has risen to 4.3% for the three months ending in September, compared to 4.0% in the prior quarter. Pay growth continues to slow, although wages are still increasing faster than inflation. The Office for National Statistics advises caution when interpreting these figures due to data collection issues.
Stock Forecasts
EWU
Negative
The rise in unemployment and slowing pay growth may lead to concerns about consumer spending and economic health in the UK. This could put pressure on UK equities, especially in sectors sensitive to consumer spending.
Related News
Rachel Reeves doesn’t mind if you don't like her Budget
Oct 31, 2024, 1:46 PM
The Budget is about the long game on the economy and Reeves believes the current pain is a price worth paying.
UK borrowing costs at highest for a year after Budget
Oct 31, 2024, 1:18 PM
Analysts say the rise in borrowing costs is a sign the markets aren't happy about the increase in government spending.
UK economy: Where is the growth in this Budget?
Oct 30, 2024, 1:36 PM
Labour's first Budget in 14 years, and the first by a woman, was historic for many other reasons too.