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The Guardian
Source: The Guardian
1 DayThe Guardian
Source: The Guardian
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Bank of England deputy governor Clare Lombardelli warned that the Iran war, rising energy prices and economic uncertainty are contributing to a “low-gear” UK jobs market, with employers delaying recruitment but largely avoiding redundancies. Young people are bearing the brunt, as youth unemployment has climbed to its highest level outside the Covid pandemic since 2015; overall unemployment has risen to 4.7%. Lombardelli said an interest rate rise in December remained possible, depending on the conflict, energy prices and wider economic data.
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