Britain’s unemployment rate dropped to 4.2 percent in the second quarter, from 4.4 percent, contrary to analyst expectations. Wage growth, excluding bonuses, also decreased to 5.4 percent, the lowest since August 2022. The data, released by the Office for National Statistics, hints at the cooling labor market, which may influence further interest rate cuts by the Bank of England.
UK unemployment, wages growth drop: Official data
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