August 16, 2016

UK Unemployment: The Climb Starts Now

   August 16, 2016

UK Unemployment: The Climb Starts Now


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Editor’s remarks:

The last reported numbers of UK unemployment hailed an 11-year low of 4.9%. Now, with the fear of Brexit, the unemployment rate is expected to rise back above 5% this week. 5% is the magic number which the Bank of England considers there enough pressure to really force wages up. However, along with an expected rise in inflation (released today) and the sterling still falling, young graduates are probably not looking forward to the coming hiring season. On one side, looking for a job or internship will be difficult with companies unsure of what the Brexit conditions will be like and on the other, taking a few months to travel is suddenly a little more expensive with the sterling falling due to the BoE’s programme. Perhaps they should do what they always have, stay in school.

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