Labor Market Weakening Signals Rate Cut Possibility
Unemployment rate rose to 4.8% in previous month.
April budget's minimum pay hikes and national insurance impacts hiring amid Brexit and US trade war.
HMRC data shows 32,000 payrolled employment decline in October.
1.7 million claim unemployment benefits, average wage growth slowed to 4.6%.
Chancellor's second budget faces focus amid 329,000 new workers this year.
Liz McKeown warns of weakening labor market and possible Bank of England rate cut.
2 months ago