Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 From Private Bank to Private Office: the next generation of ultra high net worth investors

From Private Bank to Private Office: the next generation of ultra high net worth investors

Citywire's Anna Dumas highlights the trend towards private and family offices.

Play Inside ETFs: how to defend against bond volatility

Inside ETFs: how to defend against bond volatility

In this latest episode we call in experts from 7IM and Markit to assess how the bond sell-off has impacted ETFs.

Play The future of wealth management according to disruptive tech expert Andrew Tarver

The future of wealth management according to disruptive tech expert Andrew Tarver

Three private office investors direct their questions about the future of wealth management, to Andrew Tarver, founder of Boldrocket and disruptive tech expert.

Your Business: Cover Star Club

Profile: Stenham's CIO on the strange persistence of hedge funds

Profile: Stenham's CIO on the strange persistence of hedge funds

Stenham Asset Management chief investment officer Kevin Arenson believes hedge funds are making a comeback

Wealth Manager on Twitter