Details of the August 2015 UK labour market report data 16 September 2015

  • Prior -4.9k. Revised to -6.8k
  • Employment change 42k vs 18k exp. Prior -63k
  • Average weekly earnings 2.9% vs 2.5% exp 3m/3m y/y. Prior 2.4%. Revised to 2.6%
  • Earnings ex-bonuses 2.9% vs 2.9% exp 3m/3m y/y. Prior 2.8%
  • July ILO unemployment rate 5.5% vs 5.6% exp. Prior 5.6%

The wage numbers take centre stage in the report and the pound is going to love it.

The growth in wages ex-bonus is the highest since 2009 and rose 3.2% in July y/y

The private sector led the way (as always) with pay rising 3.4% vs 2.9% prior. Public sector pay rose 1.0% vs 1.1% prior

This report is a big fat tick in one of the BOE's columns for them to raise rates