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UK unemployment rate ticks up to 4.2% in cooling labour market
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The figures released today (16 April) by the Office for National Statistics came in well ahead of economist expectations of a 4% print. Wage growth was also higher than expected during the period. Average regular earnings growth excluding bonuses fell to 6%, compared to the 5.8% predicted. Including bonuses, average earnings remained stagnant at 5.6%, against the 5.5% forecast. UK out of 'short and shallow' recession as GDP grows 0.1% in February «This may raise further concern among some Monetary Policy Committee members over the persistence of inflationary pressures,» said Micha...
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