Free Trial
BUND TECHS

(Z2) Trend Needle Still Points South

EURGBP TECHS

Approaching The Top Of A Multi-Year Range

US TSYS

Fresh Lows For TYZ2

GBPUSD TECHS

Downtrend Accelerates And Parity Beckons

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 Real Earnings Fall At Fastest Pace On Record

(MNI) London
(MNI) London

UK nominal wages pick up in 3 months to June, but inflation adjusted, they fall at fastest pace on record.

True

UK real earnings fell sharply in the three months to June, with inflation adjusted pay excluding bonuses falling at the fastest rate since comparable records began, the Office for National Statistics said Tuesday. Ex-bonuses, wages declined 3.0% year-on-year, while wages including bonuses declined by 2.5%. Unadjusted total wages rose 5.1% y/y, slightly exceeding analysts expectations.

The ONS data is inflation adjusted again the CPIH inflation measure. Against CPI, real wages ex-bonuses fell 4.1% y/y, also a record decline.

Keep reading...Show less
162 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 real earnings fell sharply in the three months to June, with inflation adjusted pay excluding bonuses falling at the fastest rate since comparable records began, the Office for National Statistics said Tuesday. Ex-bonuses, wages declined 3.0% year-on-year, while wages including bonuses declined by 2.5%. Unadjusted total wages rose 5.1% y/y, slightly exceeding analysts expectations.

The ONS data is inflation adjusted again the CPIH inflation measure. Against CPI, real wages ex-bonuses fell 4.1% y/y, also a record decline.

Keep reading...Show less