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UK DATA
MNI (London)
UK DATA: UK MAR-MAY LFS JOBLESS RATE 3.9% VS 3.9% FEB-APR
MAR-MAY LFS JOBS -126,000 TO 32.95 MN 
MAR-MAY AVG TOTAL EARNINGS -0.3% VS +1.0% 
MAR-MAY AVG EARNINGS EX-BONUS +0.7% VS +1.7% APR 
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--As the coronavirus pandemic took hold, the labour market weakened markedly,
but that rate of decline slowed into June, though this is before recent job
losses were reported. Early indicators for June 2020 suggest that the number of
employees on payrolls is down around 650,000 compared with Mar. 
--Employment is weakening and unempl is largely unchanged, there are some signs
of inactivity rising, with people out of work not currently looking for work. 
--Hours worked has continued to fall reaching record lows both on the year and
on the quarter. There are still a large number of people temporarily away from
work, including furloughed workers, although this is falling through May.
analysis shows that there were around half a million people away from work
because of the pandemic and receiving no pay. 
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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