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BREAKING: UK average earnings growth above forecasts

8:03 AM 14 November 2023

UK labor market data for September and unemployment benefits for October:

  • Unemployment Change Actual 17.8k (Forecast 15k, Previous 20.4k)
  • Average Weekly Earnings YoY Actual 7.9% (Forecast 7.3%, Previous 8.1%)
  • Average Earnings (Ex-Bonus) Actual 7.7% (Forecast 7.7%, Previous 7.8%)

The latest data indicates that the UK labor market remains stable. The unemployment rate is steady. Wages are continuing to increase, which may prompt the Bank of England (BOE) to consider further tightening of monetary policy in the future.

GBP gains against USD after data release.

Source: xStation 5

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