UK Unemployment Rises While Wages Keep Growing, Complicating Bank of England's Fight Against Inflation

• Unemployment rate in the UK rose to 4.3%, exceeding Bank of England's forecast
• Employment contracted by over 200,000 jobs, the sharpest drop in over a year
• Wage growth reached a record high of 8.5%, fueling inflation
• Job vacancies declined but remain above pre-pandemic levels
• Rapid wage growth expected to lead Bank of England to raise interest rates again on September 22

3 Articles

Reuters Reuters Reuters