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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 DATA
MNI (London)
- Payrolled employees jumped 102k in January, over double that of December and markedly outpacing forecasts of +15k. The inactivity rate fell 0.3pp on the quarter to December, together implying continued labour market tightness.
- Though historically very high, the quarter to January saw job vacancies decline by 76k, implying the seventh consecutive recorded fall. Firms cited economic pressures as the grounds for lower recruitment levels.
- December weekly earnings slowed 0.6pp to +5.9% 3m/yoy, whilst accelerating by 0.2pp to +6.7% 3m/yoy when excluding bonuses. This was the strongest wage growth rate on record barring the pandemic period.
- The BOE stated at the February MPR that both domestic price and wage pressures have outpaced expectations, implying upside risks to core CPI.
- According to the February MPR, a continuation of this trend would imply an active response in the Bank Rate: "If there were to be evidence of more persistent pressures, then further tightening ... would be required."
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.
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