Latest UK wages and jobs data now out 18 Oct
- 2.2% prev revised up from 2.1%
- weekly earnings ex bonus 2.1% vs 2,0% vs 2.2% prev revised up from 2.1%
- Sept jobless claims change 1.7k vs -0.2k prev revised from -2.8k
- claimant count rate 2.3% as prev
- employment change 3m/3m 94k vs 148k exp vs 181k prev
- unemployment rate 4.3% as exp/prev
Seemingly bullish headline but real terms wage lags and being outstripped by inflation will remain a concern to the BOE on rate hike deliberations.
That's being reflected in GBPUSD spike to 1.3218 and now back in retreat. Thank-you algos once again. Easy pips if you're not greedy
Says the ONS:
- In real terms, avg weekly earnings fell 0.4% on previous year (ex-bonus) and 0.3% (incl. bonus)
- Employment growth 3M/3M driven predominantly by women
- 3M to August saw 78K women in employment versus 3-months earlier
- Overall employment growth not as strongs as last month
- Vacancies up 3K on the quarter to 783K, near-record level
- Inactivity rate down 17K on quarter to 8.81M
Full ONS report here
