Bank of England look out for jobs data revisions
The ONS revealed that the number of payrolled employees dropped by 109,000 in May, prompting concern among Bank of England officials. 
By: Mauricio Alencar
Politics and Economics Reporter
Share - Facebook Share on Facebook
- X Share on Twitter
- LinkedIn Share on LinkedIn
- WhatsApp Share on WhatsApp
- Email Share on Email
The Bank of England has relied more heavily on business surveys and research supplied by jobs platforms and the Recruitment and Employment Confederation (REC) over fears ONS quality levels have dropped.
The official statistics body is undergoing structural reforms in response to a recent review conducted by Sir Robert Devereux, with changes taking place within senior leadership.
Read more
Unemployment creeps up as firms cut jobs following Reeves tax raid
Unemployment creeps up as firms cut jobs following Reeves tax raid
The poor quality of jobs data, which may not improve substantially until the end of next year, has put rate-setters under greater pressure when making decisions.
City forecasters are divided on the number of interest rate cuts the Bank of England will make in the next 12 months.
Capital Economics believes the unemployment rate will edge up to as much as five per cent, triggered by adjustments to employers tax hikes introduced by Chancellor Rachel Reeves.
The pacy decline of the labour market could see rates cut to three per cent next year from the current Bank Rate of 4.25 per cent.
Markets have priced in a low of 3.5 per cent and improved the likelihood of two cuts taking place this year.
But rival consultancy Pantheon Macroeconomics takes a different view, claiming official payroll data had “gone haywire” and dropped far more than levels indicated in business surveys.
UK economists Robert Wood and Elliott Jordan-Doak claimed job growth would rebound over the summer and payroll falls would be revised up, leading to just one more rate cut in the next year given inflation had proven to be a “modest but persistent” problem.
“A loose labour market is needed to drive wage and price-setting behaviour back to inflation target-consistent rates, and that requires persistently restrictive policy,” the Pantheon Macroeconomics analysts said.
City analysts widely believe increases to average earnings would continue to wind down, potentially falling below the five per cent mark for wage growth in the three months to May.
Read more
Bailey watching labour market softening ‘very closely’
Bailey watching labour market softening ‘very closely’
Subscribe to the City AM newsletter to have our top stories delivered directly to your inbox.
Subscribe By signing up to our newsletters you agree to the Terms and Conditions and Privacy Policy.
FAQ
When and where was the game of roulette first played?
When and where was the game of roulette first played? The game as we know it today first appeared in Paris in 1796, and quickly gained popularity throughout Europe, especially in the casinos of Monte Carlo. The addition of the zero by Francois and Louis Blanc in the mid-19th century helped to increase the house edge and make the game more profitable for casinos.
How has technology influenced the game of roulette?
How has technology influenced the game of roulette, such as with electronic and automated versions of the game? One of the most significant technological advancements in the game of roulette has been the introduction of electronic roulette tables. These tables feature a digital display that simulates the spinning of the roulette wheel, and players can place their bets on a touchscreen interface. This allows for faster gameplay, as the wheel can be spun more frequently than with a traditional roulette table.
When and why was the double zero added to the American roulette wheel?
When and why was the double zero added to the American roulette wheel? The double zero was added to the American roulette wheel in the mid-19th century. The exact year is not clear, but it is believed to have been added around the 1860s. The reason for its addition was to increase the house edge, making the game more profitable for the casino. At the time, gambling was not regulated in the United States, and casinos were free to set their own rules and payouts.
Who invented the game of roulette?
Who invented the game of roulette? The exact origins of roulette are a subject of much debate and speculation among historians and gambling enthusiasts. While there is no clear consensus on the game’s inventor, several theories exist regarding its creation. One of the most popular theories is that the game was invented by a French mathematician named Blaise Pascal in the 17th century. According to this theory, Pascal was attempting to develop a perpetual motion machine when he inadvertently created the roulette wheel.
What is a Rake Chase?
What is a Rake Chase? Rake chases are poker promotions which are incentives for players to rake more and reward them generously for that. In contrary to a rake race, you don’t compete against other players , but instead chase your own individual targets. In order to hit the points targets you need to play a certain amount of poker hands or tournaments for real money. As soon as you hit the points requirement, you have secured yourself the amount of money, which was preset for the respective level.
Welcome to wptgofree.com, your comprehensive resource for information on Red Wind Casino. Whether you're exploring gaming options, dining experiences, or seeking employment opportunities at Nisqually Red Wind Casino, our site provides up-to-date details to enhance your experience.
This site only collects related articles. Viewing the original, please copy and open the following link:Bank of England look out for jobs data revisions
