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UK: Steady performance from the labour market - TDS

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 17, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Research Team at TDS, suggests that the UK labour market showed steady performance in the three months to December.

    Key Quotes

    “The unemployment rate remaining at 5.1% (vs expectations of a decline to 5.0%), while wage growth solidified somewhat, with the 3m/y non-bonus measure ticking up from 1.9% to 2.0%, and the more important core private sector ex-bonus measure holding on to last month’s gains, at 2.4% y/y.

    Hours worked growth reassuringly strengthened to 1.6% y/y, and the employment rate rose to 74.1%, a record high. Today’s report is unlikely to significantly sway the MPC, as contemplation of a first hike in Bank Rate remains far off, and wage growth especially has plenty of time to continue firming before then.”
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