From Morningstar: 2024-09-10 06:03:00

The UK unemployment rate dropped to 4.1% in July, down from 4.2% in June, missing forecasts. Wage growth slowed with average earnings excluding bonuses at 5.1%, down from 5.4% in the previous quarter. Total earnings growth, including bonuses, was at 4.0%, influenced by one-off NHS and civil service payments.

Experts analyze the data’s impact on state pensions, interest rates, and household incomes. The upcoming Bank of England meeting suggests a rate cut may not be necessary due to moderating wage growth. Household disposable income is up by 2.1%, but lower-income households struggle as inflation remains a concern.



Read more at Morningstar: UK Jobless Rate Declines and Wage Growth Cools