Here comes unemployment...
The unemployment rate, which is given as a three-month average, is expected to remain unchanged from last month's reading of 4.9%.
Since the Brexit vote, various economists and financial institutions have predicted that the UK's unemployment rate will shoot up as a result of the vote to leave. Credit Suisse, for example, predicts an increase to 6.5% for the base rate, equivalent to roughly 500,000 jobs being lost. However, October saw the rate remain near its record low.
The Bank of England expects unemployment to rise to 5.5% once the full effects of the referendum are felt across the economy. However, in recent days, BoE governor Mark Carney has said that the bank is willing to allow inflation to overshoot its target in order to protect jobs.
As for wage growth, average earning are forecast to have grown by 2.4% in October, a slight acceleration on September's figure of 2.3%.
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- A millennial manager went viral after her Gen Z assistant picked up a work call while at the hair salon: 'Go off queen'
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Kia India looks to expand sales, service network to 700 touchpoints by year-end
- Shapoorji Pallonji’s Afcons Infra files DRHP for ₹7,000 crore IPO
- Water crisis affects businesses across Bengaluru; Is there room for cautious optimism?
- BenQ Zowie EC2-CW review – Premium wireless mouse for gamers
- Banks' GNPAs set to improve further to 2.1 pc by FY25: Care Ratings