Latest data released by ONS - 19 May 2020
- Prior 12.2k; revised to 5.4k
- Claimant count rate 5.8%
- Prior 3.5%
- March average weekly earnings +2.4% vs +2.7% 3m/y expected
- Prior +2.8%
- March average weekly earnings (ex bonus) +2.7% vs +2.6% 3m/y expected
- Prior +2.9%
- March ILO unemployment rate 3.9% vs 4.3% expected
- Prior 4.0%
Slight delay in the release by the source. As lockdown measures in the country go into full swing, unemployment claims soar in the UK - much like everywhere else - to historic levels.
Wage pressures remain a tad bit more subdued, with the main reading slumping to its weakest level since June 2018. Meanwhile, the unemployment rate for March is still seen as better but expect that to change next month when it reflects April data instead.
