Employment numbers steady but wage growth stuck in neutral

Latest Figures Show UK Unemployment Has Risen Above 2 Million

The unemployment rate rose to 4.4 percent from 4.3 percent, the first increase since the three months to February 2016 as the number of jobless rose for a third monthly report in a row.

However, Norway believes that the marginal change is well within the margin of error.

The number of Britons in work grew less than expected, rising by 88,000, about half the consensus forecast in a Reuters poll of economists.

The ONS attributed a rise in unemployment to fewer economically inactive people - those neither working nor looking for a job.

Wage growth has remained floored by inflation and will potentially dampen the prospect of another interest rate rise in May, critics have suggested.

Britain's jobless rate rose for the first time in nearly two years at the end of 2017 and pay growth remained modest, keeping the Bank of England waiting for an acceleration in wages that would justify a new interest rate hike.

Ethiopia says emergency rule to last six months
Those released included several prominent opposition leaders and well-known journalist Eskinder Nega, a critic of the government. A statement by the state broadcaster said the move was necessary to stem a wave of anti-government protests. .

Analysts said that Wednesday's data reduced the likelihood that the Bank of England would raise its main interest rate in May, as had been widely expected by markets.

Wednesday's data marks the first time since August 2016 that the UK's headline rate of unemployment has climbed.

Average weekly earnings for employees in nominal terms (not adjusted for inflation) increased by 2.5% including and excluding bonuses. "But it's important to remember these figures simply look at the number of people in work, and aren't a measure of migration". In particular, fewer citizens from eastern European countries were in work than in the year before. With only two months left in the 2017/18 financial year, cumulative borrowing now stands at 37.7 billion pounds, down 16 percent on the same point a year ago.

"This is the sharpest increase in the unemployment level the ONS has seen in nearly five years", Matt Hughes, a senior statistician from the ONS. told media.

"For the Bank of England, which has said rising wages are a key argument for tighter monetary policy, today's data makes a May rate hike all the more likely although as always, this still relies on renewed Brexit progress over coming weeks", said James Smith, developed markets economist at ING.

Related News:

  • Palestinians attack Qatari aid official in Gaza

    Palestinians attack Qatari aid official in Gaza

    Hospital cleaning workers demonstrated their support during the ceremony, holding signs reading "Thank you, Qatar". Israel holds it responsible for all attacks emanating from Gaza, regardless of who carries them out.
    US men's hockey team staves off elimination with huge win

    US men's hockey team staves off elimination with huge win

    Later qualifying games Tuesday include South Korea against Finland, Slovenia against Norway and Switzerland against Germany. Zapolski allowed four goals against the Russians and it would be devastating if he would not be able to stop the Slovaks.
    Aircraft Orders Show Aviation Sector Set To Take Off, Says PM Modi

    Aircraft Orders Show Aviation Sector Set To Take Off, Says PM Modi

    Spread over 1,160 hectares of land, one of the biggest Greenfield airport will have two parallel runways. He hailed the fact that there has been a tremendous growth in India's aviation sector.
  • Canadian Figure Skating Duo Takes 2nd Gold at Winter Olympics

    Canadian Figure Skating Duo Takes 2nd Gold at Winter Olympics

    They once had a routine so provocative that they had to tone it down. "I was a bit nervous in the short dance", Muramoto stated. Lindsey Vonn won't have to wear the unwanted No. 1 bib again when she starts the downhill at the Pyeongchang Olympics.
    EFF: Zuma Is Gone, Now Dissolve Parliament

    EFF: Zuma Is Gone, Now Dissolve Parliament

    The EFF said it had no faith in the ANC , called for the dissolution of Parliament and fresh elections. None of the ANC MPs came out in Zuma's defence during this meeting, one of those present said.
    Onboard brawl forces cruise ship to make unscheduled stop

    Onboard brawl forces cruise ship to make unscheduled stop

    A violent 30-person brawl broke out on a relaxing family cruise ship in what has been dubbed the " cruise from hell ". We've been told to watch our backs by this group so we're scared to go anywhere alone in the ship".
  • Virgin Hyperloop One is coming to India

    Virgin Hyperloop One is coming to India

    Virgin Hyperloop claimed that this Hyperloop project will bring forth tremendous economic and social benefits for people. The company is also in talks with Andhra Pradesh and Karnataka governments to introduces hyperloops in those markets.
    Facebook Will Use Postcards To Fight Foreign Meddling In US Politics

    Facebook Will Use Postcards To Fight Foreign Meddling In US Politics

    So, President Trump just revealed not only his ignorance, but Republican support of Russia's highly successful efforts. Meanwhile, the Kremlin has denied involvement in the cyber attacks .
    Terracotta theft: Chinese anger over stolen warrior thumb

    Terracotta theft: Chinese anger over stolen warrior thumb

    No one was supposed to see them at the Franklin Institute on the night of the science after-hours event, however. Surveillance video helped lead the Federal Bureau of Investigation to both the thumb and their suspect, Rohana.
  • 15 books you need to read after seeing Black Panther

    15 books you need to read after seeing Black Panther

    Will Smith has heaped praise on the Black Panther cast, saying they have potentially shattered Hollywood stereotypes. Get Out is ranked fifth, Call Me By Your Name is in sixth, and Paddington 2 is in eighth.
    Trump endorses Mitt Romney's bid for Senate seat

    Trump endorses Mitt Romney's bid for Senate seat

    Romney changed his tune after Trump beat Clinton for president, and even considered serving as Trump's Secretary of State. Romney, who was the GOP presidential nominee in 2012, responded to President Trump's support with gratitude.
    White House clearance procedure tightened

    White House clearance procedure tightened

    But in a statement to the Post , Kushner's lawyer, Abbe Lowell, said Kelly's memo "will not affect Mr. Kushner's ability to continue to do the very important work he has been assigned by the president".

Most liked

Venezuela raised $735mn on launch of oil-backed 'petro' cryptocurrency - Maduro
But it's uncertain how much foreign currency the petro will bring in, as Venezuela's global credibility has already fallen. President Nicolas Maduro blames the United States and Western institutions for waging "economic war" against Venezuela.

Kurds demand UNSC to pressure Turkey for Afrin actions
Shortly after the militias entered the enclave, Turkish planes carried out airstrikes around the city, Syrian state TV reported. The current "Operation Olive Branch" is an extension of the previous military campaign of 2017.

Trump plan: Less-comprehensive health plans at lower cost
Rather, she said, the short-term policies could appeal to healthy people who are "sitting on the sidelines without coverage". He said the more successful it is in pulling people away from the ACA marketplace, the more destabilizing it would be.

Russian Federation inquiry: Lawyer Alex van der Zwaan charged
Yanukovych had imprisoned Tymoshenko, a political rival, after a gas supply controversy in 2009 involving Russian Federation . Prosecutors have alleged that Manafort and Gates used an offshore account to secretly pay $4 million for the report.

Jose Mourinho says Manchester United have 'some problems' with injuries
The reward for United's win at Huddersfield is a home tie against Chris Hughton's Brighton in the quarterfinals of the FA Cup. The game against Sevilla on Wednesday will be followed by Chelsea's visit to Old Trafford on Sunday.

Police suspect Netanyahu associate of trying to bribe judge
The attorney general must now decide how to move forward with the police recommendations, a process that could take months. He is accused of receiving lavish gifts from Hollywood mogul Arnon Milchan and Australian billionaire James Packer.

United States forces kill Kremlin mercenaries in battle for Syrian oilfields
At the time of the attack on February 7, the Russian defense ministry insisted it had no troops in Dayr al-Zawr. Critics allege that Russian Federation uses mercenaries in Syria to keep official military losses low.

WWE Elimination Chamber lineup: The updated card for Sunday's event
Finally, he says that he's turning Raw back into Monday Night Rollins and he wants to be the man again... Look for Finn Balor to possibly pin The Miz, setting up an Intercontinental Title match in New Orleans.

Samsung Galaxy S9, Galaxy S9+ latest leaks leaves nothing to imagination
The new smartphones have variable aperture mode of f/1.5 or f/2.4 that will redefine low light photography like never seen before. Unlike the smaller variant, the handset will have a separate iris scanner, making it resemble the S8+ from a year ago .

Germany expects freed journalist to be allowed to leave Turkey
But standing next to Mrs May, the German leader said: "I'm not frustrated at all". A spokesperson for Germany's Foreign Minister confirmed Yucel's release.

Russian civilians in Syria not linked to our military
The pilot survived the initial attack and ejected, but died in a ground fight, detonating his grenade to avoid being captured. The mercenaries are said to have been hired by private military firms backing Syrian pro-government troops.

Valentine Day 2018 : Unknown facts about the Valentine day
Getting a gift or receiving flowers from anyone, including yourself, will make you feel good, loved and all things lovely . On any other day, the idea of staying the night could be acceptable, but on V-Day, it's better to be safe than sorry.

(Olympics) Joint Korean team to face Switzerland in women's hockey classification match
But in the meantime, it would be foolish to funnel much emotional energy into this team, as admirable and scrappy as it may be. Before the tournament, Granato was emphatic that it wouldn't take another Miracle for the U.S.to win.

Olympics: Czech Republic beat Canada 3-2 in men's hockey
The Canadians upped their physical game in the second period, flooring several Czechs. The Czechs fought back again, levelling inside the first minute of the second period.

Rocket sirens in southern Israel
Meanwhile, no one has claimed responsibility for the attack on the Israeli army vehicle, which wounded three Israeli soldiers. Following the incident, an Israeli tank fired at an observation post located in the area.