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The Latest Breaking News on Economy

Singles are opting for cheaper dates due to cost of living crisis, study finds

More than 40 per cent of single people say they are now more inclined to pick modest date location to avoid bill panic

The Independent UK

UK wages in June fall at fastest rate for 20 years

Real pay continues to be outstripped by soaring inflation amid a continuing cost of living crisis

The Guardian - UK

Workers' pay falls at record levels as Tories 'have lost control of the economy'

Boris Johnson is on his second holiday in a fortnight as Brits are facing a deepening cost of living crisis. Between April and June, regular pay slumped by 3% when taking skyrocketing inflation into account, according to official statistics.

Daily Mirror

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UK real pay falls by record 3%, as job vacancies also decline – as it happened

UK wages adjusted for inflation decline at fastest rate in 20 years, while job vacancies fall, as average annual grocery bill is set to jump by £533 to £5,128

The Guardian - UK

Record pay slump as prices rocket

Millions hit by sharpest fall in real-term wages in two decades

Evening Standard

Inflation tipped to hit 10% as living standards fall further

The London lifestyle seems to be particularly prone to cost of living hikes with rents and mortgage bills

Evening Standard

We partied for June’s jubilee, but a winter recession won’t be an easy ride

Data on jobs, prices and sales this week will add to the gloom, but might an inflation-led return to work take the edge off?

The Guardian - UK

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Tories fear UK fallout with Johnson absent and rivals feuding

LONDON — Replacing Boris Johnson was meant to let the U.K.’s ruling Conservatives move on from the chaos and distractions turning off voters.

Tribune News Service

Businesses and wealthy people ‘handed £36bn tax cuts under Rishi Sunak’

Tax Justice UK calculates at least £35.8bn handed to businesses in tax cuts

The Independent UK

‘Worst is yet to come on economy’

Average family energy bill could reach nearly £5,300 next spring

Evening Standard

GDP falls 0.1% as Covid-19 vaccination programmes wind up

Experts are predicting that this fall signals the beginning of a recessionary period for the UK economy

Insider UK

UK economy contracted in second quarter amid cost of living crisis – as it happened

Live, rolling coverage of business, economics and financial markets as economists brace for long UK recession

The Guardian - UK

UK economy shrinks amid recession predictions

THE UK’s economy shrank over the last three months in what may be the beginning of the predicted recession.

The National (Scotland)

GDP: Economy contracts 0.1 % in second quarter amid cost of living crisis

Britain’s GDP fell 0.6 per cent in June as the cost of living crisis and working time lost during the national celebrations for the Queen’s Platinum Jubilee sent output tumbling.

Evening Standard

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The Guardian - UK

UK economy shrinks by 0.1% in second quarter as recession looms

ONS says two bank holidays to mark Queen’s jubilee contributed to fall in output in June

Daily Mirror

Shocktober: 10 reasons October will be worst month for Brits in 40 years

The cost of living crisis is getting worse and October is set to be a tough month for millions of families. We explain all the key dates and events to be aware of, including when energy bills will rise.

The Guardian - UK

Energy crisis has pushed families to the brink

Letters: Prof Mike Stein and Peter Riddle on Labour’s policy void as Britain grapples with rising costs and inflation. Plus a stark warning by Dr Thomas Richardson on the heavy price people will pay in terms of mental health problems

Al Jazeera

US jobless claims increase for second straight week

Unemployment claims remain close to the highest level since last November, the Labor Department said.

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Tribune News Service

US jobless claims rise again, near highest since November

Applications for U.S. unemployment insurance rose for a second week and held near the highest level since November, indicating continued moderation in the labor market.

The Guardian - UK

Biggest UK fall in real wages for 100 years looms, warns TUC

Study shows pay rises could fall behind inflation by 8% later this year, an unprecedented drop in living standards

The Independent UK

US unemployment claims rise by 14,000 to 262,000

The number of Americans who signed up for unemployment benefits rose last week to the highest level since November, though the U.S. job market continues to show signs of strength

AAP

Dead received NZ cost of living payment

New Zealand's opposition has described the government's much-vaunted cost of living payments as a "debacle" after cash went to backpackers and the deceased.

Daily Mirror

Tens of millions of working Brits set to be hit by 'stealth tax' of £30billion

Income tax thresholds, including the personal allowance, have been frozen for four years. But inflation is soaring and could hit 13% - meaning people will be dragged into paying more

The Conversation

India’s great untapped resource: its jobless young people

Young people have been taking to the streets across India, demanding governments act to provide more jobs. In the northern state of Bihar, large numbers protested on February at delays in filling public sector vacancies. Some of them had passed the required examinations but waited several years for their job…

The Independent UK

Public services face cuts unless £26bn inflation hole plugged, IFS warns

Prices rises will cause cuts in healthcare, education and defence unless the Treasury intervenes, according to a leading economic think tank

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