UK March jobless claims change -46.9k vs -48.1k prior

• Prior -48.1k

• February ILO unemployment rate 3.8% vs 3.8% expected
• Prior 3.9%
• February employment change 10k vs 50k expected
• Prior -12k

• February average weekly earnings +5.4% vs +5.4% 3m/y expected
• Prior +4.8%
• February average weekly earnings (ex bonus) +4.0% vs +4.0% 3m/y expected
• Prior +3.8%

The number of payrolled employees in the UK rose by 0.6% with early estimates indicating the figure to be 29.6 million. Relative to the pre-pandemic period i.e. February 2020, the number of payrolled employees was up by 1.9%. The jobless rate continues to trickle lower, suggesting further tightness in the labour market but total hours worked is still seen below pre-pandemic levels.

Meanwhile, growth in average pay remains elevated but the figures are still distorted somewhat by base effects though to a lesser degree at this point. But a notable trend is that as inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is increasing in recent months, it is causing real pay growth to drop: