UK January ILO unemployment rate 4.4% vs 4.4% expected

• Prior 4.4%
• Employment change 144k vs 95k expected
• Prior 107k
• Average weekly earnings +5.8% vs +5.9% 3m/y expected
• Prior +6.0%; revised to +6.1%
• Average weekly earnings ex bonus +5.9% vs +5.9% 3m/y expected
• Prior +5.9%
• February payrolls change 21k
• Prior 21k; revised to 9k

The UK jobless rate keeps steady on the month with wages data continuing to hold thereabouts. February reflected another increase in payrolls, though it comes with a revision lower to the January figure. All in all, it’s not a soft report nor is it a hot one in terms of wages. Real earnings did ease slightly in the three months to January to 2.1%, down from 2.6% last month. But it has been on the rise since August last year, so it’s not too much comfort for the BOE.

This article was written by Justin Low at www.forexlive.com.