Latest data released by ONS - 15 October 2019
- Prior +4.0%; revised to +3.9%
- Average weekly earnings (ex bonus) +3.8% vs +3.7% 3m/y expected
- Prior +3.8%; revised to +3.9%
- ILO unemployment rate 3.9% vs 3.8% expected
- Prior 3.8%
- Employment change -56k vs 26k expected
- Prior 31k
- September jobless claims change 21.1k
- Prior 28.2k; revised to 16.3k
- September claimant count rate 3.3%
- Prior 3.3%
Overall, that's a softer report with the headline missing slightly and the unemployment rate inching higher. That said, the ex bonus reading remains solid and despite the slight dip in the headline, wages pressure remain robust as seen over the last few months.
All of this hardly matters though for the pound - especially this week - as the Brexit rhetoric remains the key driver in dictating price action. Cable remains steady at 1.2660 currently, little changed on the report release.
