Britain's Jobless Rate Rises, to 4.4%, for First Time in 2 Years

Britain's Jobless Rate Rises, to 4.4%, for First Time in 2 Years

Thursday's data comes closely on the heels of the fourth quarter labour market report, which showed the unemployment rate rising for the first time since July 2015, although the ONS attributed this to a rise in the participation rate rather than an increase in job losses.

The unexpected downward revision came after the Office for National Statistics (ONS) concluded that output from the production industries was less than previously believed.

The UK economy recorded slower-than-expected growth in the final three months of a year ago, posing fresh questions for the Bank of England as it eyes a further hike to interest rates.

The pound fell on Thursday after United Kingdom growth was revised lower by the Office for National Statistics in its second estimate of fourth-quarter gross domestic product (GDP).

The former have been constrained by a sharp rise in inflation that was due to the fall in the pound following the referendum.

Analysts said that Wednesday's data reduced the likelihood that the Bank of England would raise its main interest rate in May, as had been widely expected by markets. Statisticians said the reason why both employment and unemployment increased at the same time was that the number of people deemed to be inactive declined. This increase remained below inflation.

The number in unemployment rose by 46,000 to 1.47 million compared the previous three months.

AT&T 5G coming to Waco in 2018
AT&T previously launched test runs for the 5G network , but now the company plans to launch it nationwide by the end of the year. Other cities will be announced "in coming months". "Our mobile 5G firsts will put our customers in the middle of it all".

However, Samuel Tombs, Pantheon Macroeconomics chief United Kingdom economist, said: 'This is not an economy that needs cooling with higher interest rates.

But workers are seeing their wages increase, with average earnings up 2.5 per cent past year, according to the latest estimates. Including bonuses, the rate was unchanged at 2.5 percent.

BoE officials are likely to note pay jumping 2.8% in December alone.

Services - the biggest part of the United Kingdom economy - grew 0.6 per cent in the fourth quarter, though downward revisions to components including distribution, hotels and restaurants contributed to the revision in headline GDP. Currently, wages are growing about 2.5 percent on average against price increases of about 3 percent.

'In particular, fewer citizens of the eastern European countries that joined the EU in 2004 and of non-EU countries were in work than in the year before.

The finance ministry said Wednesday's figures were strong.

Related Articles

  • Rubio grilled by Parkland shooting students, parent

    Rubio grilled by Parkland shooting students, parent

    Church leaders said past year that they hoped to tear down the Sutherland Springs, Tex., church where a gunman killed 26 people. Parch said the administration at her school vowed to join students in similar demonstrations in the future.
    Alabama policeman killed trying to apprehend murder suspect

    Alabama policeman killed trying to apprehend murder suspect

    Billa had been named the department's Officer of the Month in June of 2016, just half a year after he joined the police force. A police department spokesperson said that funeral arrangements have not yet been finalized but may be announced Thursday.
    Fortnite Battle Pass For Season 3 Revealed, Introduces New Cosmetic Types

    Fortnite Battle Pass For Season 3 Revealed, Introduces New Cosmetic Types

    In the latest season, Battle Pass can unlock 76 items across 30 tiers, including new items like " back bling " and sky trails. Developers also plan to experiment with larger team modes and games where players have less time between each circle.
  • Delhi Environment Minister meets LG over alleged attack on him

    Delhi Environment Minister meets LG over alleged attack on him

    The AAP contested the ad-related claims. "For the past couple of years, officers have been insulted and humiliated in public". While the Bharatiya Janata Party (BJP ) termed it an act of "Urban Naxalism", the Congress demanded an apology from Kejriwal.
    Gujarat municipal polls: BJP retains most seats; Congress improves tally

    Gujarat municipal polls: BJP retains most seats; Congress improves tally

    The share of the ruling party, which had bagged 117 seats in the 182-member assembly in 2012, dipped to below 100 - at 99 seats. In fact, Congress has lost all the three municipalities in Mehsana district this time, also losing Kheralu and Vijapur to BJP.
    Israel strikes 'historic' gas deal with Egypt

    Israel strikes 'historic' gas deal with Egypt

    The agreement awaits prerequisite regulatory and government approvals in both countries, according to the contract. Noble and Delek Drilling together control 85 percent of Leviathan, with the rest held by Ratio Oil.
  • Horner admits Red Bull eyeing title

    Horner admits Red Bull eyeing title

    Red Bull team principal Christian Horner added: "The special edition livery has made its mark on the 2018 season ". So far I can see fine with the Halo. "It's always hard to tell from a few laps but the initial feeling is good.
    Syrian Forces Enter Afrin to Help Kurds against Turkish Incursion

    Syrian Forces Enter Afrin to Help Kurds against Turkish Incursion

    On Jan. 20, Turkey launched Operation Olive Branch to clear PYD/PKK and Daesh terrorists from Afrin in northwestern Syria . Putin is a key backer of the Syrian government.
    Measles on the rise: What you need to know about the disease

    Measles on the rise: What you need to know about the disease

    The virus is spread by coughing and sneezing, close personal contact or direct contact with infected nasal or throat secretions. People who remain unvaccinated contribute to measles rates not only by exposing themselves but also by exposing others.
  • Drought over: US women win 1st Olympic cross-country medal - and it's gold

    Drought over: US women win 1st Olympic cross-country medal - and it's gold

    In that story, which ran at the start of the Pyeongchang Games, Diggins told Russell, "We definitely have a chance at a medal". Diggins, who had come agonizingly close to medaling in the 10-kilometer freestyle last week, refused to be denied this time.
    Salmonella outbreak linked to kratom, Dozens sickened in multiple states

    Salmonella outbreak linked to kratom, Dozens sickened in multiple states

    In an earlier statement issued last fall, Gottlieb warned that the agency knew of 36 deaths linked to kratom use. A number of kratom-containing dietary supplements are being recalled and destroyed by the manufacturer, the U.S.
    Kushner's security clearance in jeopardy as Kelly skirmish escalates

    Kushner's security clearance in jeopardy as Kelly skirmish escalates

    Kushner's ability to continue to do the very important work he has been assigned by the president", Lowell said last week. Kushner's clearance has been delayed, in part, to incomplete information on his application and financial forms.