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Podcast: Beyond Currency
Episode: 17 May 2023 - Unemployment rate rises marginally as close to 47k join new claimants
Description: The April employment report was published yesterday, and it showed that average earnings are still well above where the Bank of England needs to be to see inflation fall back close to its target of 2%.
The headline figure, excluding bonuses, grew year-on-year to 6.7%, up from 6.6% a month earlier.
The data shows that the economy is at something of an inflection point, with momentum beginning to turn, but that will likely come too late for the next Monetary Policy Committee Meeting.
The data has remained in the same “ballpark” for a few months now and this will concern the Central Bank sinc...