Real wages fall when Britain’s living expenses are squeezed.Lower Unemployment – ​​Business Live | Work

Date:

good morning. Welcome to the rolling coverage of the world economy, financial markets, euro area and business.

UK unemployment is declining again as employers continue to add workers to salaries … but wages are now again lagging behind inflation.

The unemployment rate fell to 4.1% in the September-November quarter, the National Bureau of Statistics reports. This is down from 4.2% a month ago.

Salaries continue to grow-ONS estimates: Employer added 184,000 staff in December, Beyond the pre-pandemic level, raise salary to 409,000, or 1.4%.

Currently, all regions are above pre-coronavirus levels, with Scotland showing the highest growth rate for the month.


UK salary level photo: ONS

Vacancy hit a record high again as employers continue to struggle to fill positions, with 1,247,000 vacancies from October to December.

That’s 462,000 more than before the pandemic, with most industries showing record numbers of vacancies, with a record number of vacancies per job for 100 employees of 4.1. However, the rate of increase in vacancies has slowed, ONS warns.

Sean Farrington
(@Seanfarrington)

We can’t stop the increase in vacancies at this time-this is a chart covering the last 15 years. pic.twitter.com/A5jTqxPxXF


January 18, 2022

After the end of the coronavirus job retention scheme, the redundancy rate was reduced to record lows. This suggests that the termination of the layoff scheme has not had a significant impact on the job market.

However, the economic inactivity rate increased 0.2 percentage points to 21.3 percent, indicating that more people have dropped out of the labor market due to study, early retirement, or illness.

Sam Avanzo Windet
(@SamanthaWindett)

Today’s @ONS Statistics (September-November compared to the previous quarter):
The UK employment rate is up to 75.5%.
The unemployment rate drops to 4.1%.
Economic inactivity rate continues to be a concern
-0.2 percentage points up to 21.3%https://t.co/oxWvwR4bJS


January 18, 2022

And for paid, the real average weekly income fell for the first time since July 2020 in November 2021 (more on this later).

Appeared today

The Bank of Japan has raised growth and inflation forecasts overnight, indicating that recent commodity-led price increases are likely to expand.

Shane Oliver
(@ShaneOliverAMP)

#BoJ Monetary policy has been put on hold, as is widely expected. Given inflation, it’s still near zero. However, it raised its growth outlook (3.8%) and inflation outlook (1.1%) for 2022.


January 18, 2022

Japan’s Prime Minister Fumio Kishida, like Israeli Prime Minister Naftali Bennett, is working on the virtual Davos agenda of the World Economic Forum today.

On the economic front, we get late German economic morale data and health checks for factories in the New York region.

Higher bond yields could open the European stock market lower, as investors expect some US interest rates to rise this year.

ACEMAXX analysis
(@Acemaxx)

# Eurodollar future #expand Point out a rate hike of at least four times 2022 from the Federal Reserve – (short-term yields are rising faster than those of longer-dated notes, #flattening UST yield curve), chart @BloombergQuint https://t.co/fwS5UqFrcI pic.twitter.com/wocnr0BceP


January 18, 2022

agenda

  • Greenwich Mean Time 8:00 am: EU Treasury Minister Holds EcoFin Meeting
  • Greenwich Mean Time 10:00 am: ZEW survey on the economic situation in Germany
  • 10 am Greenwich Mean Time: Israeli Prime Minister Naftali Bennett’s Special Speech on Davos Proceedings Day
  • 11:00 am GMT: Prime Minister Fumio Kishida gives a special speech at the Davos Capitol
  • Greenwich Mean Time 1:30 pm: New York Empire State Manufacturing Index

Real wages fall when Britain’s living expenses are squeezed.Lower Unemployment – ​​Business Live | Work

Source link Real wages fall when Britain’s living expenses are squeezed.Lower Unemployment – ​​Business Live | Work

The post Real wages fall when Britain’s living expenses are squeezed.Lower Unemployment – ​​Business Live | Work appeared first on Eminetra.

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