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British employment dips in the third quarter
In Great Britain, the overall number of people in work went down by the most for more than two years for the last three months to September. It’s a fresh sign of weakness in the country’s Brexit-bound economy, as official data disclosed on Wednesday.
Additionally, the inactivity rate, which is a measure of folks not in work and not looking for a job, tacked on by the most in almost eight years, as the Office for National Statistics informed.
The data revealed that the unemployment rate kept to a four-decade minimum of 4.3% as the number of folks in employment went down by 14,000, while pay surge was still much slower than inflation.
As the ONS told, employees’ total earnings, including bonuses, rallied by an annual 2.2% for the three months to September versus 2.3% for the three months to August.
It turned to be weaker than the latest 3% outcome of UK consumer price inflation.
Financial experts, who took part in a Reuters survey, had expected wage surge of 2.1%.
Inflation data is the most important indicator that affects the central bank’s monetary policy.
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