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Alarm bells ring as jobs total breaches record News Analysis: Labour market miracle brings fears of rising inflation

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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