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Preview: UK Wages Seen Rising as Labor Market Tightens
Economists expect the jobless rate to have remained unchanged at 5.5% in the quarter to August, as the number of people claiming unemployment benefits is seen rising again in August, after more than two-and-a-half years of continuous sharp falls in jobless claims. The ONS is releasing labor market figures for August on Wednesday. "The LFS [Labour Force Survey] unemployment rate had fallen by over 2 percentage points over the past two years, leveling off in recent months, and was close to Bank staff’s estimate of its medium term equilibrium rate," the Bank of England (BoE) chief policymakers argued in October. ... (full story)