The Economy

Eurozone unemployment hits fresh high

The eurozone jobless rate rose to 12.1 per cent in May, up from 12.0 per cent in April. The rise in unemployment was driven by the increased joblessness in countries at the heart of the crisis.

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Increased residential building activity boosts UK construction sector in June

Construction activity rises for second month running and the new order growth hits 13-month high in June, whilst overall output growth is driven by increased housing activity.

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Spending review signals end to pay progression

The trade union criticise the plans to cap pay and abolish incremental wage whilst millions of public-sector workers stand to lose their automatic pay progression

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UK Manufacturing PMI at 25-month high, as rising demand supports faster output growth

UK Manufacturing PMI stood at 52.5 in June, as growth of output and new orders gain momentum and price pressures remain subdued.

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MPC Minutes, June 2013

The minutes from the Monetary Policy Committee meeting, held on 5 and 6 June 2013 have now been released.

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Index of Labour Costs per Hour (ILCH) Q1 2013

Wage costs per hour worked increased by 1.6 per cent, while non-wage costs per hour worked increased by 4.3 per cent and the growth in labour costs per hour in the public sector was 2.1 per cent in the third quarter of 2012, compared with 1.7 per cent in the private sector.

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TUC calls for Government to review zero hours contracts

HR Magazine reports that employers are advertising zero hour contracts because there are so many jobseekers hunting too few vacancies and the TUC has warned that young and vulnerable workers can be put at risk.

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Permanent employment rises at fastest rate in six months

The latest report on jobs from the Recruitment and Employment Confederation and KPMG shows that permanent and temporary staff appointments are both on the increase; whilst there is a marginal fall in permanent staff availability, temporary availability is on the rise along with pay rates. There has also been a solid, albeit slightly slower, expansion of job vacancies.

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UK Trade, April 2013

The UK’s deficit on seasonally adjusted trade in goods and services was £2.6 billion in April 2013. The deficit on trade in goods was £8.2 billion. The surplus on trade in services was estimated at £5.6 billion.

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Bank of England maintains Bank Rate at 0.5 per cent June 2013

The Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 per cent

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