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UK Labor Market Cools

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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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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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