Latest UK labour market report now out 20 July 2016
- 12.k prev revised from -0.4k
- claimant count rate 2.2% vs 2.2% exp/prev
- unemployment rate 4.9% vs 5.0% exp/prev
- employment change 176k vs 73k exp vs 55k prev
- May ave weekly earnings 3 mth-yy 2.3% vs +2.3% exp vs +2.0% prev
- ave earnings ex bonus 3mth-yy 2.2% vs +2.4% exp vs +2.3% prev
Softer earnings ex bonus but improvement in unemployment rate. Increase in ave earnings inc bonus in line with market expectations. Sharp revision due to technical reason, switch to Universal Credit say ONS
Full report here
GBP rallying.
