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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
UK DATA
- Brightmine (previously XpertHR) median basic pay awards in the 3 months to the end of March 2024 fell to +4.8% (vs a revised +5.0% in the prior rolling quarter - originally +4.8% Y/Y 3 month average) - the lowest level since September 2022.
- On top of the normal monthly rolling quarter data, Brightmine's preview of April pay deals finds that the median rises marginally to 5%. The Brightmine senior content manager states with the April settlements coming in "this cements our view that pay awards will centre on the 5% mark over at least the first half of 2024."
- Both this and the quarterly rolling data point to a reduction in wage growth relative to last year, although not as meaningful a slowdown as the MPC would have liked. Note that last week's official ONS wage data fell less than expected.
- Data collected between 1 January and 31 March 2024, based on a total of 142 pay settlements, representing 398,976 employees.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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