June 12, 2024 10:50 GMT
MNI UK Labour Market Insight: June 2024 Release
UK DATA
- The key private sector regular AWE came in line with the median of the analyst previews that we read at 5.83%Y/Y while total regular AWE was 5.97%Y/Y in the 3-months to April (in line with a number of analyst forecasts but the median from the surveys we read and the Bloomberg consensus were both 0.1ppt higher).
- Digging into the wage numbers, there are no large impacts from the National Living Wage increase but there appear to be sticky wages in finance and manufacturing in particular.
- We look at the potential implications for next week's inflation data from this week's labour market release.
- We also summarise more than a dozen sell-side reviews of both the labour market and UK GDP releases.
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