Labour Report (Jan 2020) Preview -..........>

UK DATA: Labour Report (Jan 2020) Preview - 0930GMT 17/3/20

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- AWE: BBG: 3.0% 3m y/y; Prev (Dec): 2.9% 3m y/y 

- AWE Ex-Bonus: BBG: 3.2% 3m y/y; Prev (Dec): 3.2% 3m y/y 

- ILO UE: BBG: 3.8%; Prev (Dec): 3.8% 

- The Jan jobless rate is seen unchanged from Dec's 3.8% , recording a fourth

consecutive reading below 4% 

- The employment rate rose to a record high of 76.5% in Dec . 

- The growth rate of AWE excl bonus payments is projected to remain unchanged in

Jan after Dec's downtick to 3.2% in Dec, which was the lowest level Sep 2018. 

- Total pay (incl bonuses) decelerated to a 16-month low of 2.9% in Dec and

markets expect a slight acceleration in Jan 

- The KPMG/REC jobs report showed an increase in permanent placements in Feb as

well as the weakest fall in candidate supply since Jun 2013. 

- Meanwhile, the countries services PMI revealed an increase in employment in

Feb, although at a slower pace.