UK unemployment steady at 4.7% amid tax hikes and US tariffs ...Middle East

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The Office for National Statistics confirmed the figure matched the previous quarter’s rate, the highest since June 2021.

US President Donald Trump’s 10 percent tariff on UK goods, also effective from April, has added to economic pressures.

Payroll employment has declined in ten of the past twelve months, particularly in hospitality and retail sectors.

Job vacancies dropped by 44,000 to 718,000 in the three months to July, the lowest since April 2021.

Economic adviser Joe Nellis linked the hiring slump to higher employer costs and global trade uncertainties.

Analysts suggest another rate cut in December is more likely than November. - AFP

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