UK wages Preview: UK wages set to rise supporting rate hike outlook
- The UK unemployment is expected to remain stagnant at 4.1% in November.
- The UK regular pay (excluding bonuses) is expected to rise 3.3% over the year in three months to November, confirming the strongest pay rise in a decade from the previous month.
- The UK total pay (including bonuses) is expected to accelerate to 3.3% y/y in three months ending in November after rising 3.3% in the previous months.
- Low unemployment and solid pay increases are confirming the path of gradual rate hikes implied by the Bank of England in the November Inflation Report.
Even with the Brexit uncertainty weighing on the UK business investment and consumer spending, the UK labor market is solid and firm and the fresh labor market report for December due Tuesday, January 22 is expected to confirm it again. Read more @ https://www.fxstreet.com/analysis/uk-wages-preview-uk-wage-set-to-rise-supporting-rate-hike-outlook-201901211616
GBP IMPORTANT NEWS FOR TODAY
5:30 pm today, the GBP will release its Average Earnings index. It’s a leading indicator of consumer inflation – when businesses pay more for labor the higher costs are usually passed on to the consumer;
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