Strong UK jobs growth puts BoE on the spot over rates

Published by
Reuters

By William Schomberg and Andy Bruce LONDON (Reuters) -British employers hired a record number of staff in November, adding to signs that the labour market withstood the end of the government’s furlough scheme and underscoring the Bank of England’s dilemma as it meets on interest rates this week. Tax office data showed 257,000 people joined company payrolls last month, the most since records began in 2014. The BoE, under pressure to address fast-rising inflation, wants to be sure that the expiry of the furlough scheme at the end of September did not cause a jump in unemployment before any decis…

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