Details of the June 2015 UK labour market report 15 July 2015
- Prior -6.5k. Prior -1.1k
- May ILO unemployment rate 5.6% vs 5.5% exp. Prior 5.5%
- Average weekly earnings 3.2% vs 3.3% exp 3m y/y. Prior 2.7%
- Earnings ex-bonus 2.8% vs 3.0% exp. Prior 2.7%
That's the first rise in claims since Oct 2012 and the first jump in the unemployment rate since Dec 2013
Wages missed expectations but still grew so that cancels out the rise in claims. No trend lasts forever and the UK have been on a very strong run in the labour market. For claims and the unemployment rate we can pencil this down as a one off for now but more focus will be on it in the coming months
GBPUSD has been down to test 1.5600 from 1.5655
Looking closer at the pay numbers, the private sector leads the way with wages jumping 3.8% from 3.3% prior and public sector manages to rise 0.4% vs 0.3% prior
UK average earnings
