World Economy

UK Employment Surges

UK Employment SurgesUK Employment Surges

Employment has surged to an all-time high, and the unemployment rate has slipped to a near seven-year low, adding further evidence to suggest that the UK economy continued to grow strongly in the opening months of 2015, Seeking Alpha reported. However, weak wage growth remains the bug-bear of the economy, slowing further in the three months to February. The weakness of wage growth leaves the consumer-led economic upturn reliant on low inflation to drive household spending, posing a risk to growth if inflation picks up later this year. Data from the Office for National Statistics showed that the rate of employment hit a record high of 73.4% in the three months to February.