UK March payrolls change 31k vs 98k prior

• Prior 98k; revised to 39k
• February ILO unemployment rate 3.8% vs 3.7% expected
• Prior 3.7%
• February employment change 169k vs 50k expected
• Prior 65k
• February average weekly earnings +5.9% vs +5.1% 3m/y expected
• Prior +5.7%; revised to +5.9%
• February average weekly earnings (ex bonus) +6.6% vs +6.2% 3m/y expected
• Prior +6.5%; revised to +6.6%

The slight tick higher in the jobless rate sees it move to its highest since June last year but still keeping very much lower from a historical perspective. Payrolls are still continuing to print positively, although the pace is slowing down. However, the standout in this report is arguably the wage numbers, which continue to run hot.

Even if it might not translate to positive real wages, the figures above will certainly keep the BOE on their toes (perhaps needing to do more) when it comes to inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term and overall price pressures.