UK Unemployment Hits 4.2% Amid Economic Challenges
Britain faces rising unemployment and stubborn wage growth, complicating the Bank of England's interest rate decisions.
- Britain's unemployment rate has risen to 4.2%, the highest in six months, as economic activity slows.
- Stubbornly high wage growth at 6% poses challenges for inflation control, complicating potential rate cuts by the Bank of England.
- Long-term sickness and economic inactivity reach record highs, adding to the labour market's challenges.
- Real wage growth, adjusted for inflation, is at its highest since 2021, offering some relief to households.
- The IMF downgrades UK growth forecasts, citing dependence on migrant labor and prolonged economic challenges.
The Telegraph 
The Guardian 
Evening Standard 
Sky News 