ICAEW economics director comments on UK labour market data

The Institute of Chartered Accountants in England and Wales (ICAEW) Economics Director Suren Thiru has commented on the UK labour market data disclosed by the Office for National Statistics. Thiru noted that the UK's employment outlook remains uncertain due to sinking business confidence and rising cost pressures, which may lead to a slight increase in unemployment. He also stated that the pace of slowing wage growth is unlikely to prompt a majority of rate setters to support a November rate cut. In Jul ...