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Slowing UK wage growth points to spring rate cut
Here's what the latest UK jobs report tells us: Unemployment stayed at 5.1%, though we had thought it might temporarily dip back. That’s up from 4.4% early last year. Private-sector payrolls fell another 55,000, a fairly chunky number, albeit one that might get revised up. Employment outside of government was down more than a percentage point in 2025. In (slightly) better news, the redundancy rate dipped in November; fears towards the end of last year that layoff notifications to the government had picked up also appear to have been short-lived. In short, the jobs market is still cooling – gradually. Weak hiring ... (full story)
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Jan 20, 2026 4:13am
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