Ahead of tomorrow's UK Labour Market.....>

UK PREVIEW: Ahead of tomorrow's UK Labour Market data at 0830GMT, analysts at

Barclays expect the unemployment rate to be unchanged at 4.3%. There was a

slight increase in February's claimant count; however, this remains consistent

with the current rate. Core earnings growth is likely to accelerate mildly.

- Nomura say last month's release was upbeat - the unemployment rate fell and

employment rose, while at the same time headline wage growth strengthened.

However, our favoured measure of wages - private ex-bonus - slowed at various

annualised periodicities following a flat reading in January. Wages will likely

remain the main focus of this report ahead of the BoE's May meeting.

- RBC note most interest most interest though is likely to be the news on

average earnings growth. The including bonus measure looks as though it could

hit 2.9% 3m/y from 2.8% 3/y, and if the ex-bonus measure reaches 2.8% 3m/y, as

expected, then it will be the highest rate since August 2015 and help reinforce

the case for a May Bank Rate hike.

- TD expect headline wage growth to hit the 3.0% mark, and for the BoE's

preferred measure, private sector regular pay, to rise to 2.9% y/y.