• AutoTL;DR@lemmings.worldB
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    8 months ago

    This is the best summary I could come up with:


    Britain’s unemployment rate has risen to its highest level in six months in the latest sign that fears of a stalling economy is affecting the UK jobs market.

    “Recent trends of falling vacancy numbers and slowing earnings growth have continued this month albeit at a reduced pace,” said ONS Director of Economic Statistics Liz Mckeown.

    Experts said the weaker-than-expected employment figures reinforce the case for the Bank of England to cut interest rates, possibly as early as June.

    Rob Wood, chief UK economist at Pantheon Macroeconomics, said: “There is solid evidence the labour market slowed markedly in March.

    “Wages lag labour market slack, so these figures will likely embolden the Monetary Policy Committee to begin cutting interest rates this summer.”

    More timely data from HM Revenue & Customs also revealed that the number of workers on payrolls fell by 67,000, or 0.2 per cent, to 30.3 million in March.


    The original article contains 424 words, the summary contains 149 words. Saved 65%. I’m a bot and I’m open source!