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None of the world's wealthiest oil exporters is being unlivable despite the fact that none of the world's wealthiest oil exporters is becoming unlivable.
Britain's labor market grew strongly despite a surge in coronavirus infections last year, leading to a reduction of unemployment to the lowest level since the early months of the epidemic.
The number of people on company payrolls increased by 184,000 in December, more than the pace expected, the Office for National Statistics data showed Tuesday. The jobless rate dropped to 4.1% in the quarter through November, the best reading since June 2020. In the fourth quarter, there were 1.25 million job vacancies.
The figures show strength in the economy that may encourage the Bank of England to keep its focus on inflation. The interest rates were boosted for the first time in the Pandemic last month, and investors anticipate a move at their next meeting on Feb. 3 as inflation threatens to surpass 6% this year, triple their target.
If restrictions are lifted as soon as next week, the labor market could become even hotter, indicating the Bank of England hawkish stance before Christmas, said Yael Selfin, chief economist at KPMG UK.
What Our Economists Say Another big surge in payrolls in December will make it hard for the Bank of England to resist lifting interest rates in February. We expect policy makers to be cautious about tightening because wage growth keeps cooling and real incomes face a lot of pressure from soaring inflation. There was an increase in the number of people who left the workforce. It's possible that rigidity in the labor market may hold back the ability of companies to grow, which is why many firms are struggling to recruit staff.
Inactivity in the quarter through November rose to 8.78 million working-age adults not in the jobs market, up by 66,000. There were 459,000 fewer people in work than at the end of 2019 because of the pandemic.
In normal times, the workforce would have grown in the past two years. There are job shortages due to the shortfall, with vacancies rising as jobs are left unfilled.
Tony Wilson, director of the Institute for Employment Studies, said that these issues appear to be getting worse each month, with the recovery stalling on the eve of the Omicron outbreak. This weak performance is driven by fewer older people in the labor market, especially fewer older women, and more people out of work due to long-term ill health. The number of European Union workers in the U.K. fell by 110,000 to 2.23 million in the three months to September from the previous quarter, a result of Britain s decision to leave the bloc.
Wage growth slowed as expected to grow to 4.2% in the three months through November, down from 4.9% previously. In November alone, the rate was 3.8% and 3.5%. There was a squeeze on living standards, with pay growth not keeping up with inflation.
The jobs market is thriving, with employee numbers rising to record levels and redundancy notifications at their lowest level since 2006 in December, according to the Chancellor of the Exchequer Rishi Sunak.
The payroll figures have been slightly revised after the downward revision of the past data. The official increase was 183,000 but the rise was only 35,000 compared to the figures announced in December.
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Stupide is the Economy, which is the main concern for Macron and France.