LONDON (AFP) – Britain’s unemployment rate rose slightly at the end of last year, official data showed yesterday, adding to unease over the stalling the United Kingdom (UK) economy.
The Office for National Statistics (ONS) also revealed that wage growth increased, though analysts said that was unlikely to prevent the Bank of England from cutting its main interest rate next month.
Unemployment rose to 4.4 per cent in the three months to the end of November from 4.3 per cent in the three months to the end of October, the ONS said in a statement.
“While rising wages reignite inflation concerns, softening unemployment figures and expectations of a downward trend in pay from here suggest the Bank of England is still on track to cut rates in February,” said senior equity analyst at Hargreaves Lansdown Matt Britzman.
Average regular pay growth jumped to 5.6 per cent in the latest reporting period, markedly above the overall UK annual inflation rate.
