How fast is UK the labour market slowing?

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy David Milliken

Financial markets widely expect the BoE to raise interest rates next week to 5.5% from 5.25%, but are split over whether that will mark the end of a tightening cycle which began in December 2021.Britain's unemployment rate rose to 4.3% in the three months to July, up from 4.2% in the second quarter and 3.5% in August 2022 - its lowest in nearly 50 years.

"This is the clearest sign yet that the Bank of England's rate rising cycle is starting to cool the jobs market," she said. However, the number of vacancies is still more than 20% higher than before the pandemic, and there remain fewer unemployed people per vacancy than any time in 2020 or earlier.

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UK labour market softens in July, despite strong wage growthBy Andy Bruce and David Milliken LONDON (Reuters) -Britain's labour market showed more signs of cooling in the three months to July despite another month ...
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