[Deutsche Bank: UK Labor Market Remains Weak, But Shows Signs of Stabilization] Sanjay Raja of Deutsche Bank stated that the latest UK employment data shows the labor market remains fragile, but initial signs of stabilization have emerged. Data shows the UK unemployment rate remains relatively high at 4.9%, and wage earners have declined again. However, job vacancy data has improved, with the number of job advertisements increasing for the first time since December last year; in the three months to May, layoffs fell to 108,000, the lowest level since July last year. Raja said that the Bank of England's survey suggests the job market may be turning around, with employers currently planning to maintain largely stable staff sizes. Slower wage growth will also be reassuring for the Bank of England as it pushes inflation back to its target level.
