British wages swelled by 3.9% per year in the last three months, as the number of people in work hits a new recordLatest: UK wage growth beats forecastsEmployment total rises to record high over 32 millionBut unemployment rate rises to 3.9%Vacancies drop, but more women in workEarlier:Gold hits $1,523 per ounceAsian markets fall 11.06am BST The UK may be creating more jobs, but it’s not becoming any more productive.Labour productivity shrank by 0.6% in April-June, which is the fourth consecutive quarterly contraction. Data from the latest labour market statistics and GDP first quarterly estimate indicate that output per hour fell by 0.6% compared with the same quarter in the previous year https://t.co/fYP0pTCB2R pic.twitter.com/zjkVkDacfJCommenting on the findings, Richard Heys, Deputy Chief Economist, said https://t.co/sehMtbCYtS pic.twitter.com/5WJAQT7v8P 10.50am BST The ONS has also spotted that the number of UK workers on zero-hours contracts has jumped in the last quarter, to 896,000.That’s up from 791,000 a year ago, and close to the record high recorded in 2016 -- before concerns grew that people were being exploited by not being promised guaranteed work.“It’s no surprise zero-hours contracts are rising when ministers have failed to crack down on unfair employment practices. The government must ban zero-hours contracts so that all workers can have solid jobs with full workers’ rights.” Continue reading...
<a href="https://www.theguardian.com/business/live/2019/aug/13/gold-price-six-year-high-geopolitical-crises-uk-unemployment-us-inflation-business-live">https://www.theguardian.com/business/live/2019/aug/13/gold-price-six-year-high-geopolitical-crises-uk-unemployment-us-inflation-business-live</a>