Sat. Sep 26th, 2020

UK jobs market weakens as employment and vacancies fall – business live

Rolling coverage of the latest economic and financial news, including the latest UK jobs report

Earlier:

10.06am GMT

Britain’s employment rate has dropped to 76%, from 76.1%, in the last quarter as the number of people in work fell by 58,000.

That’s still close to a record high, following a steady recovery since the financial crisis

9.46am GMT

More bad news. The number of vacancies in the UK economy has fallen by 14,000 in the last quarter.

That’s the biggest quarterly decline since 2009, according to the ONS.

Not the greatest set of UK labour market data on first glance:
• Wage growth weaker than all forecasts
• Employment down 58,000 in Q3 (biggest drop since mid-2015)
• Job vacancies fall to 800,000 — biggest annual drop since 2009

Will bolster BoE doves’ views.

Continue reading…Rolling coverage of the latest economic and financial news, including the latest UK jobs reportLatest: UK employment down by 58,000The key chartsBiggest drop in employment since 2015Wage growth slows to 3.6%Earlier:Introduction: Will Trump delay escalating trade war?President due to speak at 5pm UK time 10.06am GMTBritain’s employment rate has dropped to 76%, from 76.1%, in the last quarter as the number of people in work fell by 58,000.That’s still close to a record high, following a steady recovery since the financial crisis 9.46am GMTMore bad news. The number of vacancies in the UK economy has fallen by 14,000 in the last quarter.That’s the biggest quarterly decline since 2009, according to the ONS.Not the greatest set of UK labour market data on first glance:• Wage growth weaker than all forecasts• Employment down 58,000 in Q3 (biggest drop since mid-2015)• Job vacancies fall to 800,000 — biggest annual drop since 2009Will bolster BoE doves’ views. Continue reading…