U.K. Unemployment Rises, Jobless Claims Surge to Record High.Summary: The U.K. labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience weakened further as jobless claims Initial Jobless Claims is a report issued by the U.S. Department of Labor on a weekly basis. This report tracks how many people have filed for unemployment benefits in the previous week. It is a good gauge of the U.S. job market. surged to a fresh record high of 32.5K from a revised reading of 27.8K in July. The claimant count...
The U.K. labor market weakened further as jobless claims surged to a fresh record high of 32.5K from a revised reading of 27.8K in July. The claimant count rate increased as well, rising to 2.8% from 2.7%, which suggests that labor demands may deteriorate further over the coming months. Furthermore, the ILO ILO
International Labor Organization
Noun 1. ILO - the United Nations agency concerned with the interests of labor
International Labor Organization, International Labour Organization unemployment rate ticked higher as firms continued to cutback cut·back
1. A decrease; a curtailment: "The political effects of food cutbacks could be devastating" New York Times.
2. on employment, rising to 5.5% from 5.4% in June. The bigger than expected rise in the unemployment figures suggests that economic activity may deteriorate further as firms cutback on employment, which could lead the BoE to reduce the benchmark interest rate Benchmark interest rate
Also called base interest rate, it is the minimum interest rate investors will demand for investing in a non-Treasury security. It is also tied to the yield to maturity offered on the comparable-maturity treasury security that was most recently issued (on-the-run). by the beginning of next year. However, BoE Governor King stated last week that he expects upside wage pressures to ease over the coming months, but went on to say that inflation expectations have increased, which could fuel upside price pressures in the near future.
2008 Al Bawaba (Albawaba.com)
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