Office for National Statistics January 22

  • Prior +3.3%; revised to %
  • Earnings ex-bonus % vs +3.3% 3m/y expected
  • Prior +3.3%
  • ILO unemployment rate 4.0% vs 4.1% expected
  • Prior 4.1%
  • December jobless claims change 20.8K vs 21.9k prior revised to 24.8k
  • December claimant count rate 2.8% vs 2.8% prior

Highest average weekly earnings at 3.4% since July 2008. Great number.

Earnings up in real terms and this bodes well for consumption going forward.

prior release can be found here.

The GBP was bid noticeably into the event and is now testing the 1.29000 handle. I have to get on to the ZEW data next, but GBPUSD is belting higher. Less and less reasons to sell the GBP now as I mentioned in comments below. Ok, must dash and get the next dish ready ;-)