You are here: Home » Reuters » News
Business Standard

Jumble of jobs data underlines Bank of England's rates dilemma

Reuters  |  LONDON 

By Andy Bruce and Alistair SmoutLONDON (Reuters) - British workers saw their pay fall further behind inflation in the three months to May even as the unemployment rate hit a new 42-year low.Official figures on Wednesday will have complicate the debate among Bank of England officials over the need for higher interest rates. Sterling bounced higher against the dollar, after data showed that the unemployment rate in the period between March and May fell to its lowest since 1975 at 4.5 percent, below the average forecast of 4.6 percent in a Reuters poll of economists.But lacklustre wage growth ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, July 12 2017. 17:11 IST