UK Labour Market Data

Signs emerging the labour market is developing some slack will mean the end of the cycle is now in sight.

Leading indicators suggest job losses will soon drive unemployment higher and that it could climb faster than many forecasters expect, according to Pantheon Macroeconomics, meaning that a commonly-relented shortage of labour in the UK may now be about to dissipate as if it were a phantom.

GBP was higher following reports UK wages came in stronger-than-expected in the UK's latest set of labour market statistics, but there are clear signs the market is cooling as the unemployment rate rose.

Strong labour and wage data out of the UK suggests the Bank of England has little choice but to continue raising interest rates in order to stem demand and ultimately lower inflation.

The British Pound remained supported against the Euro and Dollar following the release of new data from the ONS that showed UK wages faster than expected in June, as job vacancies remain elevated in a low-unemployment environment.

The UK economy contracted less than was expected last quarter but its foundations are weakening with financial distress growing as a constraint within the small business sector and lynchpin of the labour market.

Workers are returning to the jobs market, headline inflation to plunge in 2023, Bank of England to end rate hike cycle sooner than expected.

Global market sentiment remains in overall charge of the British Pound on the day the UK reported some mixed labour market data.

The British Pound has settled against the Euro and Dollar having registered sharp losses over the course of the past 24 hours, aided by a stabilisation in under-pressure global equity markets and fresh confirmation the UK labour market remains 'tight'.

The British Pound rose against the Euro and Dollar following the release of UK labour market statistics that revealed a strong jump in wages and a stronger than expected fall in unemployment.

Strong labour market data will keep alive expectations for a series of Bank of England rate hikes over the course of 2022 and 2023, offering a fundamental source of support for Pound Sterling valuations.

Strong labour market data could offer the Bank of England confidence to raise interest rates again in February, maintaining a positive outlook for the British Pound.

A surge in new job vacancies looks to be coming to an end according to one of the UK's leading job sites.

Significant churn in the UK workforce is likely to drive wage inflation, as one new survey suggests more than three quarters of respondents intend to look for a new job in 2022.

UK business activity and business confidence remain above long-term averages, according to two new economic surveys, with one suggesting a post-pandemic spike in unemployment will be avoided.

Staffing issues were the third most significant driver of cost pressures, cited by 46% of all firms.

Once base effects are stripped out of the latest UK earnings data strong underlying wage growth trends can be revealed, and they will accelerate says the NIESR.

UK employment levels are now back to where they were just before the Covid crisis, according to the latest labour market statistics from the ONS.

The British Pound was tipped by foreign exchange analysts to remain supported in the wake of some better-than-expected job data out of the UK.

Permanent staff appointments and temporary billings have both risen to near-record rates, according to a regular UK jobs survey.