top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Economic Indicator

14 Dec 2021

U.K. Labor Market Continued to Improve but Omicron Fears Weaken Outlook

The Index Today

The U.K. labor market latest data released showed that it is continuing to improve in October right after the government ended the furlough scheme, giving a more steady the way for the Bank of England to raise the interest rates if it wants to.

According to figures released by the Office for National Statistics (ONS) on Tuesday, Employment rose by 149,000 in the three months through October, relative to the previous three months. That was less than the 228,000 expected. The number of those claiming jobless benefits fell by 49,800 in October alone, after a smaller decline of 14,900 in September.

The U.K. employment rate was up 0.2% on the previous quarter and just 1.1% shy of its rate before the Covid pandemic hit. Unemployment was estimated by the ONS at 4.2% of the workforce for the period, 0.4% lower than the previous quarter’s figures. Total hours worked in the economy were also up but remain below pre-coronavirus levels. U.K. employment figures have improved in tandem with the easing of Covid restrictions. But fears are rising that Boris Johnson’s government will reimpose steadily harsher restrictions to deal with the fresh wave of Covid-19 infections and potentially stall the economic recovery, Investing news reported.

The Rising inflation could led to speculation that the Bank of England will raise interest rates immidiately.

Chris Bailey, an analyst with Financial Orbit via Twitter said, “My instinct is still that the Bank of England will raise interest rates in early ’22, they should do it this week but undoubtedly will choose not to.”


Clay pottery with table linens
bottom of page