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Private sector regular pay a tenth higher than expected

  • First glance looks as though the headline AWE numbers in line with expectations for August but the private AWE ex bonus came in a tenth higher than expected at 8.0% (we had a 7.9% median expectation from the sellside previews that we had read).
  • The RTI payrolls fell 11kM/M to 30.1mln in September (with a small downward revision to the August number).
  • Shouldn't really be much to move markets here - particularly as we noted earlier that the MPC seem to be de-emphasising this data since the September meeting.

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