UK jobs market report was released today at 7:00 am BST. Report was expected to show a slowdown in headline and core wage growth as well as a small drop in employment. Actual data came in-line with market expectations, when it comes to earnings growth, but surprised positively with an employment gain. GBP gained slightly following the release although the gain has been erased already.
UK, jobs market report for May
- Employment change (3-month/3-month): 19k vs 18k expected (-140k previously)
- Unemployment rate: 4.4% vs 4.4% expected (4.4% previously)
- Average earnings: 5.7% YoY vs 5.7% YoY expected (5.9% YoY previously)
- Average earnings excluding bonuses: 5.7% YoY vs 5.7% YoY expected (6.0% YoY previously)
- Employment change (for June): 16k vs -5k expected (-3k previously)
Source: xStation5
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