Latest data released by ONS – 13 November 2018
- Prior +2.7%; revised to +2.8%
- Earnings ex-bonus +3.2% vs +3.1% 3m/y expected
- Prior +3.1%
- ILO unemployment rate 4.1% vs 4.0% expected
- Prior 4.0%
- Employment change +23k vs +25k expected
- Prior -5k
- October jobless claims change 20.2k vs 18.5k prior
- October claimant count rate 2.7% vs 2.6% prior
The headline reading is as expected, rising to the strongest pace since September/Q3 2015, meanwhile the ex-bonus reading is a beat relative to expectations, and that’s the strongest rise since Q4 2008. The September reading for the ex-bonus alone was +3.2% y/y.
A very muted reaction in the pound though with cable holding steady around 1.2905 still, rather unchanged from before the data was released. The unemployment rate takes a little shine off the report but the employment change rising by 23k means that employment levels reach 32.41 million which marks the highest level since the records began in 1971.