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14th Aug 2023 19:26U.K., Daily Monitor

  • We doubt the mix of rising unemployment and wage growth can be explained by an increasing NAIRU...
  • ...The pool of unemployed is relatively young and out of work for a short period; immigration remains strong.
  • Wage growth takes time to respond to changes in slack usually; PAYE data point to a slowdown in July.

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Keywords for: 16 August 2023 UK Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence