Category: U.K
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U.K. Labor Market Update: Wages Cool But Unemployment Rose Above Expectations
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The UK labor market showed mixed signs in the quarter ending September, with wage growth moderating but the unemployment rate rising more than expected. The Office for National Statistics (ONS) reported that regular wage growth (excluding bonuses) fell to 4.8% in the three months to September from 4.9% in August,…
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Rob McElhenney backs U.K. company after vintage Wrexham shirt spending spree
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When TV star Rob McIlhenney gambled on Welsh minor league football team Wrexham AFC in 2020 with fellow actor Ryan Reynolds, the self-confessed football newbie wanted to look like it. What better way than to find a replica t-shirt from the 1970s worn by the ‘Wrexham Lager’ sponsor? McElhenney first…
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U.K. Gen Zers set to finally see salary ranges for job listings
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Thousands of Gen Z workers in the UK are likely browsing through job applications as we write, dissatisfied with the lack of transparency over pay in their current jobs, and with the ambiguity surrounding potential new employers. But all that may be about to change. Nearly half of UK employers…
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U.K. Economic Growth Stagnated in July 2024
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The latest update on UK economic activity reveals a stagnant picture for July 2024, with flat GDP growth and mixed performance across sectors, likely leaving the Bank of England in a delicate position as it considers future monetary policy decisions. Key points: UK GDP recorded no growth (0.0%) in July…
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U.K. Labour Market Update: September 2024
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The latest UK employment data reveals a mixed picture, with signs of a slowdown in the labour market but persistent wage pressures, leaving the Bank of England in a delicate position ahead of its meeting on September 19. Key points: The UK employment rate for people aged 16-64 is estimated…
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U.K. CPI Rate Held Steady in June but Services Price Growth Rate Remains Elevated
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As widely expected, UK annual inflation has decided to take a breather this summer, with the consumer price index (CPI) growth rate remaining unchanged at 2.0% year-on-year in June 2024, according to the latest figures from the Office for National Statistics. Link to UK Consumer Price Inflation: June 2024 the…
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Wages in the U.K. are growing twice as fast as Europe and the U.S. thanks to one simple policy
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The new Labour government in the UK has emerged from its landslide election victory promising to return the country to its economic highs. The latest evidence of workers’ wage growth will provide a good platform for the government to deliver on that promise. Wages rose by 7% in the UK…
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A WFH ‘culture war’ has broken out across Europe, with the U.K. leading the charge as the most WFH-friendly country, while France lags behind
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Sometime between March 2020 and the end of 2021, “office workers” ceased to exist. Offices Working from home wasn’t possible, of course, nor was it the kind of work people typically did in offices before the pandemic. But the inherent connection between the two was irrevocably severed, with working from…
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U.K. Inflation Drops To The BOE’s Target Range For The First Time Since 2021
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As expected, UK consumer prices rose 2.0% year-on-year in May, slowing from the 2.3% annual increase in April and recording their lowest readings since July 2021. The core CPI, which excludes volatile items such as food and energy, rose 3.5% year-on-year after a 3.9% year-on-year rise in April. On a…
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U.K. Joblessness Rose 50.4K in May, But Wage Growth Picked Up
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The UK claimant change figure indicated a larger than expected jump in unemployment at 50.4K for May versus the consensus reading of 10.2K and the previous unemployment gain of 8.9K. Meanwhile, the unemployment rate rose from 4.3% to 4.4% instead of stabilizing, reaching its highest level since October 2021. However,…
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U.K. Joblessness Rose 50.4K in May, But Wage Growth Picked Up
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The UK claimant change figure indicated a larger than expected jump in unemployment at 50.4K for May versus the consensus reading of 10.2K and the previous unemployment gain of 8.9K. Meanwhile, the unemployment rate rose from 4.3% to 4.4% instead of stabilizing, reaching its highest level since October 2021. However,…
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FX Watch: GBP/USD to Extend Its Uptrend After the U.K. CPI Release?
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In case you missed the latest weekly FX market summary, Uncle Sam’s slightly weaker economic data has traders holding off on a rate hike or even a rate cut from the Fed. Fortunately for USD bulls, Fed members also came out and hinted at a “higher for longer” interest rate…
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U.K. Economy Shed Fewer Than Expected Jobs in April, Wages Beat Estimates
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The latest UK employment report was mostly better than expected, with the economy losing just 8.9K jobs in April versus an estimated decline of 13.9K jobs. In addition, previous readings enjoyed notable improvements, reflecting flexibility in the labor market and strong wage inflation. Change in the number of claimants in…
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FX Watch: GBP/USD’s Downtrend Opportunity Ahead of the U.K. Jobs Report
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The pound is testing downside resistance levels ahead of UK labor market data! If you’ve read our latest Weekly Forex DigestYou will know that the US dollar has found some support as more Fed officials announced that they are in no rush to cut interest rates soon. Meanwhile, at least…
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Week Ahead in FX (May 13 – 17): U.S. Inflation Plus U.K. And Australia’s Jobs Reports
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The US Dollar is in for another busy week as Uncle Sam publishes the latest inflation reports! Meanwhile, labor market updates from the UK and Australia are expected to increase volatility for the British pound and Australian dollar. We’ve got a diary on this week’s most watched data releases! Before…
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The U.K. economy could stare down long-term irrelevance without immigration
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The UK economy has no places to look for a good news story as its economy continues to grapple with inflation while its European neighbors leave rising prices in the back burner. This is now likely to impact the country’s growth prospects. The Organization for Economic Co-operation and Development (OECD)…
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Deliveroo driver bit off customer’s thumb—now U.K. government cracks down on account sharing
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Delivery apps Deliveroo, Uber Eats and JustEat have agreed to introduce enhanced immigration checks on people working as riders on their app after pressure from the UK government. The three platforms will increase their number Right to Work Checks After increased scrutiny of account sharing practices, leading to high-profile incidents,…