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The Guardian - UK
The Guardian - UK
Business
Heather Stewart Economics editor

Reeves will hope weaker wage growth enables more interest rate cuts

Andrew Bailey Rachel Reeves Office for National Statistics MPC
Commuters walk over London Bridge
Commuters walk over London Bridge Photograph: Andy Rain/EPA

The downturn in the UK’s jobs market appears to be gathering pace, but the chancellor, Rachel Reeves, will hope that means slower wage growth will open the way to more interest rate cuts.

Unemployment has continued to rise, the Office for National Statistics (ONS) said, ticking up to 4.6% in the three months to April, from 4.5% in the three months to March.

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