The UK labour market data for the month of June was a decidedly mixed bag. While the unemployment rate dropped to 4.0% - a post-crisis low – the number of jobless claims was lower than expected and wage growth declined to 2.7% year-on-year from 2.8% in May. Overall, inflationary pressures from the labour market are hard to find and the Bank of England will have a hard time justifying further rate hikes with a tightening labour market.
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(Almost) Daily Market News Update
- Published:
15 Aug 2018 -
Author:
Joachim Klement -
Pages:
5
The UK labour market data for the month of June was a decidedly mixed bag. While the unemployment rate dropped to 4.0% - a post-crisis low – the number of jobless claims was lower than expected and wage growth declined to 2.7% year-on-year from 2.8% in May. Overall, inflationary pressures from the labour market are hard to find and the Bank of England will have a hard time justifying further rate hikes with a tightening labour market.