UK: Wage growth should continue to be well-supported - TDS
|Analysts at TD Securities point out that this morning's UK labour market data for May was exactly in line with consensus as the unemployment rate held at 4.2% for the 4th month in a row, while headline wage growth came in at 2.5% y/y.
Key Quotes
“The underlying wage data was a bit more upbeat though, with private sector regular pay holding steady at 2.9% y/y and momentum as measured by the 3m/3m rate accelerating after a couple of softer months.”
“UK vacancies hit their highest level since records began in 2001, supporting the story of labour market shortages that we've seen in a few other places, and suggesting that wage growth should continue to be well-supported.”
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.