Wednesday, June 11, 2008
Unemployment up, earnings benign
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

The slowdown can't shield Britain from global inflationary pressures but it is helping contain second-round effects via the labour market. Official figures showed that alongside a fourth consecutive rise in unemployment, earnings growth dropped to 3.2%, which will come as a relief to the Bank of England. The claimant count rose by 9,000 last month, while the broader Labour Force Survey measure increased by 38,000 in the three months to April. Employment was also up, by 76,000, over that period. Details here.