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Slow Job Rate in UK

The gloomy figures also threw the spotlight on a government pledge to see through unpopular austerity measures after the two parties in the ruling centre-right coalition performed poorly in local elections, reflecting voters’ concerns about rising prices, meagre wage growth and job insecurity. The Bank of England will have to weigh the latest signs of economic weakness – as well as renewed turmoil in the euro zone – against stubbornly high inflation when it decides on Thursday whether to give Britain another dose of monetary stimulus to counter the recession.
According to the British Retail Consortium sales at stores open for at least a year fell 3.3 percent in value terms compared with April 2011, after a 1.3 percent rise in March. The reading was well short of forecasts for a 0.5 percent increase, the weakest since March last year. In the second quarter after it shrank between last October and March, the poor returns will make it harder for the economy to eke out growth, although retailers’ takings were squeezed by rainy and cold weather.
However the number of people placed in permanent jobs rose at the slowest pace since January, a survey for consultancy KPMG and the Recruitment and Employment Confederation (REC) – which represents recruitment agencies – showed. The REC’s monthly index ticked down to 51.9 from 52.4 in March, with readings above 50 indicating growth. As per Deutsche Bank economist George Buckley the BRC survey and the softer labor market highlighted the risks to his view that the Bank would not extend its quantitative easing programme of asset purchases on Thursday. Reading has suggested that the economy remains fragile and vulnerable to further shocks, including risks from the political upheavals threatening to halt the euro zone’s slow march towards recovery. However the turmoil in Europe – where concerns are rising that Greece may be forced to leave the euro zone – also gave the government’s tough debt management programme a boost as it kept the country’s borrowing costs at ultra-low levels. Apply now with text a loan @ www.textaloan.org.uk and get amount you need.

A poll by the Confederation of British Industry showed late last month that British retailers reported the best outlook for the following month’s sales in more than a year. Jobseekers may also fare better as, according to the REC/KPMG data, in April overall vacancies maintained the pace of growth recorded in March – the strongest since July. But April surveys of purchasing managers showed slowing growth across Britain’s services, manufacturing and construction sectors.