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UK Wage Growth Hits Six-Month High Ahead of Crunch BOE Meeting
UK employment plunged in the weeks after Labour increased payroll taxes in its first budget, reinforcing the case for the Bank of England to continue cutting interest rates. Data based on tax records showed the number of employees on payroll at the lowest level in over a year after falling by 47,000 in December — the largest drop since the end of 2020 when the country was under Covid restrictions. It was a second consecutive decline that will add to concerns that Labour’s £26 billion ($31.9 billion) hike in employers’ national insurance is causing firms to shed workers. Signs of a weakening labor market are a ... (full story)
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- Posted: Jan 21, 2025 11:40am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,543
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