Details of the May 2015 UK labour market report 17 June 2015
- Prior -12.6k. Revised to -7.8k
- April ILO unemployment rate 5.5% vs 5.5% exp. Prior 5.5%
- Average weekly earnings 2.7% vs 2.1% exp 3m y/y. Prior 1.9%. Revised to 2.3%
- Ex-bonus 2.7% vs 2.5% exp 3m y/y. Prior 2.2%. Revised to 2.3%
Wages take centre stage on this report and cable has bounded up through 1.57 to 1.5723. Even the wage revisions are good and more than wipes out the lower claimant count and its revision lower
The private sector leads the way once again which is good news. We know that the government still needs to sort the accounts out and that's likely to keep public sector wages subdued for a while longer. Well, at least until the public sector gets the hump and starts threatening industrial action
UK wages
UK average earnings 3m y/y
