The number of people holding down jobs in the UK is at a three-month high from November. Ministers welcomed these figures along with the fall in people claiming jobseeker's allowance.
It is not all rosy for Britain though. Salaries have declined below the inflation rate as employers have been reluctant to issue pay rises. Figures are showing a decline of 0.3% for average earnings growth from last year. Inflation is likely to stay above 2%, at the least, and economists are worried that consumers are going to be cutting back on their retail spending.
Official figures will be released on Friday for Britain's GDP for the final quarter of last year. It is expected to show that the economy has contracted with a possible fall of 0.4%. Unfortunately many of Britain's major retail stores have closed down over recent months, including chains such as Comet, Jessops and HMV. This combined with a downturn in the manufacturing sector is likely to reverse this upwards trend in employment.
The pound was high against the dollar and euro after the unemployment data report but this could all change on Friday. Market sentiment is also fragile at the moment with the upcoming referendum regarding the UK's membership in the EU.
UK UNEMPLOYMENT RATE DOWN BUT WAGES FALL BELOW INFLATION
1. UK UNEMPLOYMENT RATE DOWN BUT WAGES FALL BELOW INFLATION
The number of people holding down jobs in the UK is at a three-month high from November.
Ministers welcomed these figures along with the fall in people claiming jobseeker's
allowance. forex trading
It is not all rosy for Britain though. Salaries have declined below the inflation rate as
employers have been reluctant to issue pay rises. Figures are showing a decline of 0.3% for
average earnings growth from last year. Inflation is likely to stay above 2%, at the least, and
economists are worried that consumers are going to be cutting back on their retail spending.
forex
Official figures will be released on Friday for Britain's GDP for the final quarter of last year. It
is expected to show that the economy has contracted with a possible fall of 0.4%.
Unfortunately many of Britain's major retail stores have closed down over recent months,
including chains such as Comet, Jessops and HMV. This combined with a downturn in the
manufacturing sector is likely to reverse this upwards trend in employment. forex market
trading
The pound was high against the dollar and euro after the unemployment data report but this
could all change on Friday. Market sentiment is also fragile at the moment with the
upcoming referendum regarding the UK's membership in the EU.
