UK unemployment rate stalls at 6%

UK unemployment rate stalls at 6%

Published at: 2014-11-14 09:15 | Author: CIJ Journal
The UK unemployment rate stalled at 6 percent in September, according to the latest figures released by the Office for National Statistics (ONS), leading to fears that the country’s economic recovery has started to slow down. Wages, however, increased by 1.3 percent in the three months leading up to September. The inflation rate for September was 1.2 percent. Analysts say it seems unlikely that this modest q-o-q increase in wages will impact the position of the Bank of England’s monetary policy committee, which has kept base interest rates at 0.5 percent. The unemployment volume dropped by 115,000 in the three months leading to September to 1.96 million, the lowest its been in six years, according to official data.

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