Employment: +14.9k (from –11.9k). Unemployment Rate: 4.5% (from 4.3%). Participation Rate: 67.0% (from 66.9%). Unemployment rate jumps to a new cycle high of 4.5%, driven by stronger-than-expected labour force participation. Employment growth slips to a below-average pace of 1.5%yr amid an underlying slowdown in ‘care economy’ jobs growth. Today’s data lends weight to our view […]

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