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The Guardian - UK
The Guardian - UK
Business
Larry Elliott Economics editor

Change to jobs market data could not come at worse time for Bank of England

Bank of England Office for National Statistics Unemployment
General view of the Bank Of England in London
The Bank of England’s monetary policy committee is due to meet on 2 November. Photograph: Pietro Recchia/SOPA Images/Shutterstock

The general rule of thumb that all economic data should be treated with caution applies in spades to the latest jobs figures released by the Office for National Statistics.

After admitting its old method for taking the temperature of the labour market was no longer fit for purpose, the ONS has published “experimental” assessments for employment, unemployment and inactivity based on a range of sources.

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