All articles tagged with #business and economics
The Bank of England has decided to hold interest rates at 4%, citing that inflation has peaked at 3.8%, but remains above the target. The decision was narrowly made, with a close vote, and reflects a cautious approach ahead of the upcoming Budget, with potential rate cuts expected in December depending on economic developments.
The Great Resignation may have subsided overall, but certain industries such as personal care services and trucking continue to experience high turnover as workers seek better-paying opportunities. This trend has led to wage increases in these sectors, posing a challenge for the Federal Reserve in managing inflation. Meanwhile, industries like retail and professional services have seen a decrease in quitting as wage hikes have moderated. The overall job market is cooling, and many workers have already found positions that match their skills and salary requirements during the Great Resignation.