U.K. Wages Grow at Fastest Pace Since 2008 in Tight Labor Market
Tuesday, 22 January 2019 17:09 WIB | EUROPE |InggrisEkonomi inggris

Britons are enjoying the strongest wage growth since the financial crisis a decade ago as the labor market tightens.

Average earnings excluding bonuses continued to increase an annual 3.3 percent in the three months through November and unemployment fell to 4 percent, matching the lowest since 1975, the Office for National Statistics said Tuesday. Separate figures showed the budget deficit unexpectedly widened in December.

Wage growth including bonuses accelerated to 3.4 percent in the latest three months, the fastest pace since 2008.

With earnings forecast to accelerate further, the Bank of England might normally be preparing to raise interest rates. But with no-deal Brexit fears mounting, and inflation expected to fall below target this month, traders put the chance of a hike this year at less than 70 percent.

The number of people in work jumped a larger-than-forecast 141,000, leaving the employment rate at a record 75.8 percent. Job creation was driven by full-time employment. Unemployment rose 8,000 as economic inactivity fell sharply.

Hanging over the outlook is a cooling world economy and Brexit, with Parliament deadlocked over the way forward less than 10 weeks before Britain is due to leave the European Union.

A 3 billion-pound ($4 billion) budget deficit in December left the shortfall in the first nine months of the fiscal year at 35.9 billion pounds -- almost 27 percent lower than a year earlier.

Source: Bloomberg

RELATED NEWS

German Services Hold Up Output as Manufacturers Struggle
Friday, 21 June 2019 14:53 WIB

Output from Germany's private sector remained unchanged in June, as a decline in manufacturing was offset by continued growth in services. A flash reading of the country's composite Purchasing Managers' Index stayed at 52.6 in June, IHS Markit said on Friday, a slightly better reading tha...

U.K. Retailers Get Black Friday Boost as Sales Surge
Thursday, 20 December 2018 17:06 WIB

Black Friday gave U.K. retailers an unexpected boost in the run-up to the key Christmas trading period. The volume of goods sold in stores and online jumped 1.4 percent in November, the most in six months, following two months of declines. An increase of just 0.3 percent was forecast in a Bloomberg...

German business confidence slumps in December
Tuesday, 18 December 2018 17:36 WIB

German business confidence fell more than expected in December, indicating that Europe's largest economy could face a protracted soft patch amid international trade tensions. The closely watched Ifo business-climate index fell to 101 in December from 102 the previous month, missing economists' fore...

U.K. Retail Sales Unexpectedly Fall in Poor Start to Quarter
Thursday, 15 November 2018 16:46 WIB

U.K. retailers made a faltering start to the fourth quarter as sales unexpectedly fell for a second month in October. The volume of goods sold in stores and online declined 0.5 percent from September, the Office for National Statistics said Thursday. The median forecast in a Bloomberg survey was fo...

U.K. Inflation Unexpectedly Stays at 2.4% as Food Costs Decline
Wednesday, 14 November 2018 16:52 WIB

An anticipated pickup in U.K. inflation failed to materialize last month as food, clothing and transport prices declined. Annual consumer-price growth stayed at 2.4 percent in October, the Office for National Statistics said on Wednesday. The figure is below the 2.5 percent predicted by both the Ba...

ANOTHER NEWS
Hong Kong stocks finish week on positive note (Review)
Saturday, 24 August 2019 04:05 WIB Hong Kong shares ended the week with a healthy rise on Friday as investors look ahead to a key speech later in the day by Federal Reserve boss Jerome Powell hoping for hints at further interest rate cuts. The Hang Seng Index jumped 0.50 percent,...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.