Friday, 15 December 2017
New York
U.K. Unemployment at 42-Year Low Fails to Spur Wage Pickup
Wednesday, 13 September 2017 16:05 WIB | ECONOMY |Ekonomi inggrisUK Unemployment

For British workers, the lowest jobless rate in more than four decades isn't enough to maintain their standard of living.

Basic wages rose an annual 2.1 percent in the three months through July, unchanged from the second quarter and below market forecasts, Office for National Statistics figures Wednesday showed. Pay fell 0.4 percent when adjusted for inflation, which is now running just shy of 3 percent.

The figures underscore the dilemma facing Bank of England policy makers over when to raise interest rates. Those arguing to keep the benchmark at a record low point to the growing strain on consumers from the sterling-driven surge in prices.

That pressure comes against a backdrop of record employment and growing skills shortages. The jobless rate fell to 4.3 percent, the lowest since 1975 and below the BOE's equilibrium rate.

Governor Mark Carney said that œan element of Brexit uncertainty is preventing firms from awarding bigger wage increases. Other explanations include poor productivity and companies clamping down on wages to offset rising import costs.

The squeeze has taken a toll on living standards, especially for public-sector workers, who have experienced a 1 percent cap on salary increases as part of stringent austerity since 2010. 

Prime Minister Theresa May said this week that the government will relax the cap for police and prison officers but Trades Union Congress General Secretary Frances O'Grady responded by demanding œa pay rise across the board for Britain's 5 million public-sector workers.

The number of people in work surged 181,000 to 32.1 million in the latest three months, the biggest increase since the end of 2015. Unemployment fell 75,000 to 1.46 million, the steepest drop in two years. Inactivity also declined sharply.

Total pay including bonuses rose 2.1 percent, the same as in the second quarter, with pay in July alone growing just 1.4 percent, the ONS said. Adjusted for inflation, it fell a three- monthly 0.4 percent. 

Bets on the Bank of England increasing interest rates increased this week after inflation climbed to 2.9 percent in August, matching the highest pace in four years. Traders are now largely pricing in a hike by the end of 2018, though some economists remain unconvinced. 

At Bloomberg Intelligence, Dan Hanson and Jamie Murray expect Brexit uncertainty to increasingly weigh on growth and the labor market, leading the BOE to keep rates on hold until 2019. 

There were some signs of weakness in the latest figures, with vacancies in the economy falling by 7,000 in the quarter.


Source : Bloomberg

China Factory Output, Investment Edge Down Amid Pollution Curbs...
Thursday, 14 December 2017 09:26 WIB

Produksi dan investasi pabrik China turun tipis di tengah kampanye pembersihan polusi nasional dan dorongan untuk mengendalikan pinjaman, sementara pertumbuhan penjualan ritel terus berlanjut. Output...

Australian Employment Surges 61,600 in November; Currency Jumps...
Thursday, 14 December 2017 07:57 WIB

Pekerjaan di Australia melonjak pada bulan November, dipimpin oleh perekrutan di wilayah pantai timur karena tingkat suku bunga rendah sehingga meningkatkan kepercayaan mereka. Pekerjaan naik 61.600 ...

U.S. adds 228,000 jobs in November; unemployment flat at 4.1%...
Friday, 8 December 2017 20:48 WIB

Amerika membuka sebanyak 222K lapangan pekerjaan pada bulan November di tanda lain ekonomi berjalan pada kemiringan penuh. Ekonom yang disurvei oleh MarketWatch telah memperkirakan kenaikan 200K peker...

U.K. manufacturing grows for 6th month in a row...
Friday, 8 December 2017 17:17 WIB

Industri manufaktur Inggris mencatat ekspansi bulanan keenam secara beruntun untuk pertama kalinya pada bulan Oktober, angka terbaru menunjukkan, tanda-tanda bahwa produsen Inggris mendapatkan keuntun...

U.S. jobless claims fall to 5-week low of 236,000...
Thursday, 7 December 2017 20:44 WIB

Klaim pengangguran awal AS, yang mengukur tingkat PHK, turun sebanyak 2.000 menjadi 236K dalam tujuh hari yang berakhir pada tanggal 2 Desember. Ekonom yang disurvei oleh MarketWatch telah memperkirak...

If Fed Signals Weak Inflation, Gold Could Move Back Up To $1,300 - TD Securities

After another disappointing trading session, one...

Gold settles higher, extends gains in electronic trading after Fed statement

Gold futures settled with a gain on Wednesday,...

Gold Ends at a Nearly 6-Month Low Ahead of Expected Fed Rate Hike

Gold prices fell Tuesday for a third-straight...

Asian Stocks Pare Weekly Gain Amid U.S. Tax Bill Uncertainty

Asian stocks declined on Friday, paring a weekly gain, as investors reduced risk amid uncertainty surrounding the fate of proposed U.S. tax changes. The MSCI Asia Pacific Index fell 0.4 percent to 170.36 as of 4:39 p.m. in Hong Kong,...

European Stocks Drop as Bonds Gain; Dollar Steady

Stocks in Europe declined and bonds gained with the euro as investors assessed messages from the Federal Reserve and European Central Bank meetings this week, while concerns about the U.S. tax overhaul lingered. The dollar steadied...

Hong Kong Stocks Fall 1 pct, Property and IT Firms Weigh

Hong Kong stocks fell on Friday, led down by property and information technology firms tracking their mainland peers, with sentiment dented by Wall Street™s weakness on concerns about the progress of U.S. tax reform. At close of trade, the Hang...