UK October ILO unemployment rate 4.3% vs 4.3% expected

• Prior 4.3%
• Employment change 173k vs 2k expected
• Prior 219k
• Average weekly earnings +5.2% vs +4.6% 3m/y expected
• Prior +4.3%; revised to +4.4%
• Average weekly earnings (ex bonus) +5.2% vs +5.0% 3m/y expected
• Prior +4.8%; revised to +4.9%
• November payrolls change -35k
• Prior -5k; revised to 24k

The jobless rate is seen holding steady in October while the November payrolls change shows a notable drop, but it comes after a positive revision to the October figure. The standout in the report though is the much higher wage numbers and that might be a bit of a concern for the BOE if the trend continues that way in the months ahead. All that being said, ONS still has to fix up their data as there are still reliability and accuracy issues when it comes to the source numbers. In any case, here’s the trend for real wages in the UK:

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