The weaker than expected 5,700 decline in employment in January, was a poor start to the year and provides more evidence that the economy is struggling to cope with the collapse in oil prices. The unemployment rate rose to 7.2%, from 7.1%, and we expect it to rise as high as 7.8% early next year.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services