The second consecutive small fall in employment might seem to suggest that the labour market has taken a further turn for the worse, but it mainly reflected soft part-time employment among younger and older people. The jump in full-time, prime-age employment and 1.0% m/m rise in hours worked tell a much more positive story. The bigger concern for the Bank is that, despite the earlier rise in the unemployment rate, wages appear to have risen strongly on the month.
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