Reported 2 months ago
The UK's unemployment rate declined unexpectedly to 4.2% in June, as hiring surged by 97,000, contrasting with economists' forecasts for a slight increase. This dip signals underlying economic strength and complicates the Bank of England's plans for potential interest rate reductions. While wage growth has slowed, the unexpectedly strong labor market data raises questions about future monetary policy decisions, making it unclear whether further rate cuts are imminent.
Source: YAHOO