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29.04.26 - 11:24
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Lloyds takes £151m hit from Iran war as it forecasts rise in UK unemployment (The Guardian)
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Bank expects its base case for GDP growth to be 0.5% this year, lower than IMF's 0.8% prediction for BritainBusiness live – latest updatesLloyds has warned that the economic fallout from the Middle East conflict could cost it £151m amid rising unemployment and inflation and a slowdown in the housing market.The FTSE 100 group, whose brands include Lloyds Bank, Halifax and Bank of Scotland, issued a downbeat economic forecast that it said reflects the stagflationary consequences – the double hit of rising inflation at the same time as slower economic growth – for the UK and global economies. Continue reading......
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21.04.26 - 08:36
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UK unemployment shows surprise fall to 4.9% as pay growth drops to lowest in five years (The Guardian)
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ONS data for three months to February is not expected to alter Bank of England's decision on interest ratesUnemployment in the UK unexpectedly fell in the three months to February, according to official figures – but the fallout from the conflict in the Middle East is expected to cause a rise in job cuts.The Office for National Statistics (ONS) said that the rate of unemployment was 4.9% in the three months to February. This compares with 5.2% in the three months to January, a rate that economists had expected to also see in February. Continue reading......
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03.03.26 - 19:31
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OBR raises UK unemployment estimates amid ′worrying′ increase in young people out of work (The Guardian)
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Unemployment is now predicted to reach 5.3% this year, up from the previous forecast of 4.9%Unemployment in the UK is set to peak this year at a higher rate than previously estimated, with a “worrying” increase in young people being out of work, the government's official forecaster has said.The Office for Budget Responsibility (OBR) said unemployment will peak at 5.3% this year, up from its previous forecast in November of 4.9%. Continue reading......
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23.02.26 - 01:18
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UK job vacancies ′fall to lowest level since pandemic′ (The Guardian)
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Advertised roles dropped 3% last month to 695,000 – first dip below 700,000 since January 2021, job site Adzuna saysThe number of job vacancies in the UK has tumbled to the lowest level in five years, research suggests, falling to levels not seen since the pandemic.The number of jobs being advertised slid by 3% in January to 695,000, according to the job search site Adzuna, marking the first time advertised vacancies have dropped below 700,000 since January 2021. Continue reading......
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19.02.26 - 07:24
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Retailers in UK plan to cut staff hours and jobs amid rising employment costs (The Guardian)
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BRC survey finds finance bosses expect technology to improve productivity, with 69% pessimistic about the economyUK retailers are planning to cut staff hours and jobs amid rising employment costs and pessimism about the economy.Almost two-thirds (61%) of finance bosses at retail companies said they planned to reduce working hours or cut overtime, according to the latest survey from the British Retail Consortium (BRC), the trade body that represents most big retailers. More than half (55%) said they would cut head office jobs and 42% said they would reduce jobs in stores. Continue reading......
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18.02.26 - 12:54
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Ministers may slow youth minimum wage rise amid UK unemployment fears (The Guardian)
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Government considering delay to equalising national minimum wage after jump in youth unemploymentUK politics live – latest updatesMinisters are considering a slower rise in the minimum wage for younger workers, amid fears over rising youth unemployment.Labour had promised in its manifesto to equalise national minimum wage rates by the time of the next election, saying it was unfair younger workers were paid less. Government sources said equalisation remained the aim but the rise could come more slowly. Continue reading......
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17.02.26 - 17:12
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UK unemployment rate hits five-year high of 5.2% as wage growth cools (The Guardian)
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ONS figures raise the prospect of a further interest rate cut by Bank of England in the springGloom for UK workers as incomes flatline and jobs market faltersBusiness live – latest updatesUnemployment in the UK has risen to 5.2%, the highest level in nearly five years, while wage growth continues to slow, raising the prospect of another cut to interest rates in the spring.The Office for National Statistics (ONS) said the rate of unemployment was 5.2% in the three months to the end of December, the highest rate since the quarter to January 2021. This was in line with what economists had been expecting and was up from 5.1% in the three months to November. Continue reading......
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17.02.26 - 14:12
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UK Unemployment Rate Near 5-Year High (AFX)
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LONDON (dpa-AFX) - The UK unemployment rate reached a near five-year high and wage growth softened in the fourth quarter, strengthening the case for the Bank of England to cut interest rates in Ma......
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