- Prior -31.9k
- January ILO unemployment rate 3.9% vs 4.0% expected
- Prior 4.1%
- January employment change -12k vs 23k expected
- Prior -38k
- January average weekly earnings +4.8% vs +4.6% 3m/y expected
- Prior +4.3%
- January average weekly earnings (ex bonus) +3.8% vs +3.7% 3m/y expected
- Prior +3.7%
The number of payrolled employees in the UK rose by 0.9% on the month, with early estimates showing a total of 29.7 million persons. That is a rise of 5.5% compared to the same period last year. The jobless rate continues to trend lower and that hints at further tightening, although total hours worked are still below pre-pandemic levels.
As for wages, base effects are still playing a role in skewing the data upwards but they aren't as extreme as compared to the start of the pandemic at least.
