Change to jobs market data could not come at worse time for Bank of England
by Larry Elliott Economics editor from on (#6FTF0)
ONS decision to switch to experimental' unemployment figures comes as interest rate decision looms next week
The general rule of thumb that all economic data should be treated with caution applies in spades to the latest jobs figures released by the Office for National Statistics (ONS).
After admitting its old method for taking the temperature of the labour market was no longer fit for purpose, the ONS has published experimental" assessments for employment, unemployment and inactivity based on a range of sources.
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