- precedent 4.3%
- Employment change -140k vs. -100k expected
- Before -177 thousand
- Average weekly income is +5.9% vs. +5.7% 3-month/year forecast
- Previous +5.7%; Revised to +5.9%
- Average weekly income is +6.0% vs. +6.1% 3-month/year forecast
- precedent +6.0%
- Salaries may change -3k
- Previous -85K; Revised to -36k
The unemployment rate is creeping to its highest levels since September 2021. This reaffirms that UK labor market conditions are deteriorating and will add to minor concerns for the Bank of England. The change in payrolls for May was again negative as well.
Additionally, wage numbers are holding up and this will not help ease concerns about rising price pressures. Real wages in the UK are now back above 2% for the first time in the three months to September 2021 too.
This article was written by Justin Lu at www.forexlive.com.