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BOE's Carney Nudged Step Closer to Rate Hike by Jobs Numbers

  • Employment increases, wage pressure shows few signs of abating
  • Bank of England forecast to increase interest rate in August
Views Of Financial District As Wages Grow At Slowest Pace in Two Years
Photographer: Chris J. Ratcliffe/Bloomberg
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U.K. employment rose to a record high in the three months through May and wage pressures showed few signs of abating, keeping the Bank of England on course for an interest-rate increase next month.

The number of people in work rose by 137,000, more than forecast, taking the employment rate to 75.7 percent, the highest since records began in 1971. While headline measures of wage growth eased modestly, an underlying gauge climbed to the highest since January.