UK jobs market is cooling despite record pay growth
by Larry Elliott Economics editor from World news | The Guardian on (#6DVN9)
Risks of interest rate overkill rising fast even though wages grew strongly in last quarter
After months in which it has defied gravity, a prolonged period of flatlining growth has finally caught up with the UK labour market.
The latest bulletin from the Office for National Statistics shows unmistakeable signs of weakness. Employment and job vacancies were down, while unemployment and redundancies were up.
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