Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Unemployment falls to 7.1%, sparking rate rise fears

Unemployment falls to 7.1%, sparking rate rise fears

The unemployment rate has fallen to 7.1%, just above the Bank of England’s 7% threshold for considering higher interest rates.

The rate for September to November 2013 of 7.1% represents a significant drop from the prior reading of 7.6% for the June to August period.

Last summer Bank of England governor Mark Carney (pictured) said rates would not rise until unemployment fell to 7%, but the rapid fall has prompted speculation that the threshold will be lowered to 6.5%.

The latest data from the Office for National Statistics also showed that between the periods October to December 2012 and October to December 2013 total pay and regular pay rose by 0.9%.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Big City Bright Future

Big City Bright Future

Big City Bright Future, the brainchild of BlackRock, is a three-week work experience programme for school leavers looking to forge a career in the City.

Play Kames' Ennett: Trump good for US high yield, but beware Europe

Kames' Ennett: Trump good for US high yield, but beware Europe

Kames Capital’s head of high yield David Ennett believes the changing political landscape will be a positive for the US, but negative for Europe in 2017.

Play Philip Milburn: why inflation won't run out of control

Philip Milburn: why inflation won't run out of control

Kames bond fund manager views inflation as more of 'scare' than a 'problem' and is positioning his portfolios accordingly.

Read More
Your Business: Cover Star Club

Profile: from Batman Live to commodity beta

Profile: from Batman Live to commodity beta

Charteris may be a family affair, but the company is not at any risk of turning sentimental

Wealth Manager on Twitter