UK jobs hit record high as Bank of England mulls first rate hike

15 October 2021

LONDON, Oct 12 (Reuters) - British employers took their payrolls to a record high in September, shortly before the end of the government's wage subsidies programme, potentially encouraging the Bank of England's progress towards a first post-pandemic interest rate hike.
The number of workers on companies' books rose by the most on record in data going back to 2014, up by 207,000 from August.
Separate official data published on Tuesday showed the unemployment rate edged down to 4.5% in the three months to August from 4.6% in the May-July period, as expected by economists in a Reuters poll.
The BoE is gearing up to become the first major central bank to raise rates since the coronavirus crisis struck. Inflation is heading towards 4% or higher -- above its 2% target.
Source: Reuters
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