May 2016 UK labour market report: Claimant count -0.4k vs 0.0k exp

15 June 2016, 11:00
Sherif Hasan

Details from the May 2016 UK labour market report 15 June 2016

  • Prior -2.4k. Revised to 6.4k.
  • Apr ILO unemployment rate 5.0% vs 5.1% exp. Prior 5.1%
  • Apr average weekly earnings 2.0% vs 1.7% exp 3m y/y. Prior 2.0%
  • Ex-bonus 2.3% vs 2.1% exp 3m y/y. Prior 2.1%. Revised to 2.2%

Good numbers all round. There's may be some residual seasonality with the wage numbers, coming at financial year end, but that's a small possibility.

The unemployment rate continues to fall and hasn't been this low for over 10 years.

Bit of a slow burn in cable but it's pushed up to 1.4212 from around 1.4180.

Wages were' higher in both private and public sectors and they are looking fairly solid.

UK wages

There's not really much to moan about and I'll give it 5 minutes before we get some comments from the Brexit campaigners talking their books. The remains will say that unemployment will get worse if we leave and the leavers will say it will get worse if we stay with all the jobs going to immigrants.

April UK wages ex-bonus 3m y/y

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