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Free AccessSo along with the normal labour market......>
UK DATA: So along with the normal labour market data, the ONS released a flash
estimate of the number of employees on a PAYE payroll.
- "Early estimates for April 2020 indicate that there were 28.6 million paid
employees, a fall of 1.2% on the same time in the previous year, a decline of
348,000 people. Compared with the previous month, the number of paid employees
fell by 1.6% in April 2020."
- Median monthly pay fell 0.9% in April vs March.
- So a fall in the number of employees in the region of 450k in April? However,
important note... First, employees who received any pay in April should be
included in this - they could have lost their job during the month and the
856.5k jobless claims number for April suggests this could well be the case.
Second, employees on notice could also have been paid even if they knew they
were losing their job. Third, the ONS still report this as "experimental" data -
so it isn't as robust as data they class as a national statistic.
To read the full story
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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.