Details of the UK April 2015 labour market report 13 May 2015

  • Prior -20.7k. Revised to -16.7k
  • March ILO unemployment rate 5.5% vs 5.5% exp. Prior 5.6%
  • Average weekly earnings 3m y/y 1.9% vs 1.7% exp. Prior 1.7%
  • Earnings ex-bonus 2.2% vs 2.1% exp. Prior 1.8%. Revised to 1.9%

Strong earnings number sends GBPUSD through 1.5700 to 1.5725

The unemployment rate is now at the lowest since mid-2008

Private sector pay leads the charge 9+2.4% vs 1.9% prior), while public sector pay still lags and only gains 0.2% vs 0.8% prior.

UK average earnings 3m y/y