Market updates on July 16
Welcome to Tuesday!
British employment tacks on to shocking record maximum
For the three months to November the overall number of folks in work in Great Britain soared suddenly, while regular wages headed north at their fastest tempo for nearly a year, as official data disclosed on Wednesday.
The UK economy slowed last year because higher inflation provoked by the post-Brexit referendum dive in the British pound affected the spending power of consumers. However, estimates of a greater hit to surge were debunked and job creation turned to be firm enough.
The Office for National Statistics informed that the number of folks in work rallied by 102,000 for the three months to November, which is the greatest jump since the period to July. As a result, unemployment has just demonstrated a record 32.2 million. By the way, a Reuters survey of market experts had hoped for a sag of 13,000.
The overall pay surge with bonuses stood still at 2.5$ just as anticipated.
Additionally, November’s consumer price inflation reached its highest value for nearly six years, demonstrating an outcome of 3.1%.
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