UPDATE: MNI UK Data Survey: November UK Labour Market

By Jamie Satchithanantham

     LONDON (MNI) - Wednesday sees the release of the ONS' latest UK labour

market reading and analysts expect to see an extension of a recent trend which

has seen a fall in  the number of employees added to the workforce. On the other

area of interest, wage growth, analysts were virtually unanimous in expecting

unchanged growth from October's levels. 

     Following the 56,000 drop in employment in October, analysts pencilled in a

further 20,000 drop for November, although not enough to nudge the unemployment

rate away from 4.3%.  

     Nominal wage growth in November was seen unchanged from that in October

with growth holding firm at +2.5% 3m y/y (total wages) and +2.3% 3m y/y

(ex-bonuses). 

--------------------------------------------------------------------------------

                         Nov                Nov           Nov                Nov

                  Avg Weekly         Avg Weekly  Unemployment  Employment Change

                    Earnings  Earnings ex-Bonus          rate              3m/3m

                    3m % YoY           3m % YoY          3m %              '000s

Date Out              24-Jan             24-Jan        24-Jan             24-Jan

Median                   2.5                2.3           4.3              -20.0

High                     2.5                2.4           4.3                0.0

Low                      2.4                2.2           4.3              -39.0

Std Dev                  0.0                0.0           0.0               14.7

Count                     14                 12            16                  6

Prior                    2.5                2.3           4.3              -56.0

Berenberg                2.5                N/A           4.3              -13.0

Capital                  2.5                2.3           4.3                0.0

Credit Suisse            N/A                2.3           4.3                N/A

Commerzbank              2.5                N/A           4.3                N/A

Daiwa                    2.5                2.4           4.3              -25.0

HSBC                     2.5                2.3           4.3                N/A

Investec                 2.5                N/A           4.3                N/A

JP Morgan                2.5                2.3           4.3              -39.0

Lloyds TSB               2.5                2.3           4.3              -15.0

Natixis                  2.5                2.3           4.3                N/A

Nomura                   2.5                2.3           4.3                N/A

Pantheon                 2.5                N/A           4.3                N/A

RBC                      2.4                2.2           4.3                N/A

Stand Chart              N/A                2.3           4.3                N/A

Societe Generale         2.5                2.3           4.3                N/A

UniCredit                2.5                2.3           4.3              -35.0

--MNI London Bureau; +44 203-586-2226; email: jamie.satchithanantham@marketnews.com

[TOPICS: MTABLE,MABDT$,M$B$$$,M$E$$$]