UK Wage Growth Jump Puts Rate Hike Pressure on BOE

The transcript discusses the current state of the UK labour market, highlighting a record high in economic inactivity due to long-term sickness. It examines the pressure on the Bank of England to adjust interest rates and the impact of strikes on GDP. The discussion also covers inflation concerns and the potential for further economic challenges for consumers.

What unexpected trend is observed in the labor market?

• Increase in long-term sickness

• Drop in wage growth

• Decrease in unemployment

• Rise in part-time jobs

What is the main reason for the increased number of strike days in February?

• Retail sector disagreements

• Education sector strikes

• Healthcare sector disputes

• Transport sector issues

How did the strikes affect the GDP growth in February?

• GDP growth increased significantly

• GDP growth flatlined

• GDP growth remained stable

• GDP growth declined sharply

What economic indicator is expected to be released soon, according to the transcript?

• Interest rate decision

• Unemployment rate

• GDP growth rate

• Inflation numbers

What is a potential consequence for consumers due to the economic conditions discussed?

• Lower unemployment

• Higher interest rates

• Decrease in inflation

• Increase in real incomes