UK: Unemployment rate steady at 3.8% - TDS
|In view of analysts at TD Securities, this morning's UK labour market data for May was generally pretty positive, with the unemployment rate holding steady at 3.8% (mkt 3.8%), but wage growth surprising to the upside.
Key Quotes
“Ex-bonus wage growth picked up to 3.6% y/y (mkt 3.5%), its fastest pace since July 2008; private sector regular pay, the BoE's preferred measure, also ticked up to 3.7%, its highest level since June 2008; and real wage growth improved to 1.8% y/y, a 2.5 year high.”
“The only real soft spot in the report was that employment growth slowed to 28K on a 3m/3m basis, which was its slowest level in a year, with firms likely delaying big hiring decisions while Brexit uncertainty remains high.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.