UK February ILO unemployment rate 4.4% vs 4.4% expected

• Prior 4.4%
• Employment change 206k vs 170k expected
• Prior 144k
• Average weekly earnings +5.6% vs +5.7% 3m/y expected
• Prior +5.8%; revised to +5.6%
• Average weekly earnings (ex bonus) +5/0% vs +6.0% 3m/y expected
• Prior +5.9%; revised to +5.8%
• March payrolls change -78k
• Prior 21k; revised to -8k

There’s not too much to scrutinise from the report as the jobless rate keeps steady while in real terms, pay growth was similar in the three months to January (as seen below). But in terms of overall payrolls change, there was a decline of 21,000 (0.1%) in Q1 itself. That said, the March figure is still subject to revision.

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