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 wage growth slowed in the three months to February, the Office for National Statistics said Tuesday, although they are still rising marginally above expectations of City analysts and the Bank of England. Average regular earnings (ex-bonuses) rose 6.0%, with total earnings (including bonuses) up 5.6%. Real wages rose 1.9% and 1.6% respectively. (MNI INTERVIEW: UK Consumers Upbeat On Personal Finances - GfK)
Payrolled employees in the UK fell by a flash 18,000 to 30.3 million. Increased volatility of Labour Force Survey estimates, resulting from smaller achieved sample sizes, means that estimates of quarterly change should be treated with additional caution, and we recommend using them as part of our suite of labour market indicators, alongside Workforce Jobs, Claimant Count data, and Pay As You Earn (PAYE) Real Time Information (RTI) estimates.
The Labour force survey unemployment rate rose to 4.2% in December 2023 to February 2024, up from 3.9% last month, although the ONS again warned on the volatility of the data.
Source: ONS
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.