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Alarm bells ring as jobs total breaches record News Analysis: Labour market miracle brings fears of rising inflation
- Article from:
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The Independent - London
- Article date:
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May 20, 1999
- Author:
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Copyright informationCopyright 1999 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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HOW LONG can the labour market miracle continue? The jobless
total is at a 19-year low, employment is at an all-time high, wage
inflation is accelerating and yet inflation remains below the
Government's target.
Despite signs that the labour market is tightening, the issue
remains low down on the Bank of England's priority list.
Unemployment and earnings figures yesterday provided fresh signs
that there may be pressures building. While the City had expected
the labour market to turn the corner, the bald statistics told the
opposite story.
A total of 328,00 new people have come into the workplace in the
past 12 months, propelling the employment total to a record 27.35
million or 74 per cent of ...
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