UK Labor Market Cools

U.K. unemployment held at a 42-year low in the third quarter but there are signs that the labor market is slowing as the number of people in work fell for the first time in almost a year.The jobless rate averaged 4.3 percent between July and September, the Office for National Statistics said on Wednesday. But employment fell by 14,000, the first decline since October last year and the biggest drop since June 2015.

Basic wage growth stayed at just above 2 percent, well below the rate of inflation, and the number people neither in work nor looking for a job rose by the most in more than seven years.

Source: U.K. Labor Market Shows Signs of Slowing as Employment Falls – Bloomberg

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