Details from the December 2016 UK labour market data report 18 January 2017
Prior 2.4k. Revised to 1.3k
- Nov ILO unemployment rate 4.8% vs 4.8% exp. Prior 4.8%
- Average weekly earnings 2.8% vs 2.6% exp 3m y/y. Prior 2.5%. Revised to 2.6%
- Ex-bonus 2.7% vs 2.6% exp. Prior 2.6%
A very good report and the pound isn't doing very much at all. The wages are good, the claimant count drop is good but once again we've seen 3m/3m employment drop. Last month it dropped by 6k and this month it dropped by 9k, though was expected to drop by 35k.
Overall though, the wages should make this a solid report. The private sector led the way as usual with pay up 3.1% vs 2.8% prior. The public sector rose 1.3% vs 1.4% prior.
Vacancies dropped to 748k vs 750k, so further signs that the market is tightening, if only marginally.
UK average weekly earnings 3m y/y
