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UK jobless rate unexpectedly rises to 4.4% in Q4; productivity up again

Wage growth remained largely unchanged over the period but jumped in December alone, the Office for National Statistics said

Reuters  |  London 

Britain's unemployment rate rose unexpectedly for the first time in almost two years in the three months to December, official data showed on Wednesday. Wage growth remained largely unchanged over the period but jumped in December alone, the Office for National Statistics said. British households have lost some of their spending power due to higher inflation, caused by the post-referendum fall in the pound. But the Bank of England expects pay to pick up soon, a big reason why it said earlier this month that interest rates are likely to rise faster and to a greater extent ...

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First Published: Wed, February 21 2018. 16:47 IST
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