UK payrolls fall by 94,000 and unemployment rises to 4.9% amid strain on economy
UK payrolls fell by 94,000, vacancies dropped to 707,000 (the lowest since 2014), and unemployment rose to 4.9%, with record income tax receipts alongside increased borrowing and benefits costs. Prime Minister Andy Burnham sought to reassure bond markets amid public spending fears triggered by these economic indicators.
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Signs of strain are building in the UK economy: payrolls fell by 94,000, vacancies dropped to 707,000, the lowest since 2014, and unemployment rose to 4.9%. Record income tax receipts came as borrowing and the benefits bill increased, prompting calls for Burnham to act.
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Burnham seeks to reassure bond markets amid public spending fears https://t.co/jukEiZR7k4