UK labor market ‘resilient’ despite end of salary program

By PAN PYLAS
Associated Press

LONDON (AP) — Analysts say the Bank of England is one step closer to raising interest rates next month after official figures showed that the end of the British government’s salary support program for workers during the coronavirus pandemic has not yet led to the feared increase in unemployment. The Office for National Statistics said Tuesday that the number of people on payroll surged by 160,000, to 29.3 million, in October, the first full month after the program ended. The Bank of England didn’t raise interest rates to curb soaring consumer prices this month amid concerns over the end of the salary program. The bank said it’d closely monitor unemployment figures before its next meeting on Dec. 16.