Free Trial
AUSSIE 10-YEAR TECHS

(U2) More Stable But Still Fragile

USDCAD TECHS

Trend Structure Remains Bullish

US TSYS

Cautious Risk Appetite Gains Momentum

AUDUSD TECHS

Key Support Still Exposed

US STOCKS

Late Equity Roundup: 2W Highs

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI BRIEF: UK March Nominal Earnings Surge To Record High

(MNI) London
(MNI Londdon)

Nominal earnings surge in the UK in March, but inflation sees real earnings at near 9-year low.

True

UK nominal total earnings rose by 9.9% in March, the biggest rise on record, taking first quarter earnings to 7.0% above the level a year ago, far exceeding analysts’ expectations. The surge in earnings comes as the jobless rate fell further to 3.7%, the lowest rate since the fourth quarter of 1974. Employment, as measured by the Labour Forces Survey, rose by 83,000, also outpacing forecasts.

The employment rate rose slightly, but the inactivity rate was unchanged at 21.4%, after rising over the past few months. Hours worked rose to 32.0 from 31.9 in the three months to February, matching pre-pandemic levels for the first time. Evidence of a hot labour market, along with the jump in nominal earnings, is likely to cause some consternation amongst members of the Bank of England’s MPC.

Keep reading...Show less
223 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.

UK nominal total earnings rose by 9.9% in March, the biggest rise on record, taking first quarter earnings to 7.0% above the level a year ago, far exceeding analysts’ expectations. The surge in earnings comes as the jobless rate fell further to 3.7%, the lowest rate since the fourth quarter of 1974. Employment, as measured by the Labour Forces Survey, rose by 83,000, also outpacing forecasts.

The employment rate rose slightly, but the inactivity rate was unchanged at 21.4%, after rising over the past few months. Hours worked rose to 32.0 from 31.9 in the three months to February, matching pre-pandemic levels for the first time. Evidence of a hot labour market, along with the jump in nominal earnings, is likely to cause some consternation amongst members of the Bank of England’s MPC.

Keep reading...Show less