Details of the February 2016 UK labour market report 16 March 2016
– . Revised to -28.4k
– Claimant count rate 2.1% vs 2.2% exp. Prior 2.2%. Revised to 2.1%
– Jan ILO unemployment rate 5.1% vs 5.1% exp. Prior 5.1%
A half decent report. Good drop in claims and good revision. Wages rose but didn’t break the bank. The ONS are throwing out that the rise in earnings may have bonus related noise, which is a usual point for that time of year. As usual the private sector were the ones with their wallets out and pay rose 2.3% vs 2.1% in Dec. The public sector rose 1.3%, the same as Dec.