Story thread · 5 reports / 5 sources

UK labour market shows further signs of cooling in June

investinglive.com · 1hShare

Just a little catch up on things as we had some technical issues for a couple of hours. Apologies on that. Earlier at the start of the session, we had the UK labour market report for June (and July payrolls) out and the numbers showed the following: June ILO unemployment rate 4.9% vs 4.8% expected; Prior 4.9% June employment change 83k vs 129k expected; Prior 147k June average weekly earnings +4.1% vs +4.0% 3m/y expected; Prior +4.4% (R) June average weekly earnings (ex bonus) +3.5% vs +3.4% 3m/y expected; Prior +3.4% July payrolls change -13k; Prior -13k (R) All in all, the trend continues to reaffirm some slight softening in the labour market with payrolls dropping again. Meanwhile, wage prices are also keeping thereabouts and slightly cooler when looking at nominal prices. The jobless rate continues to keep at 4.9% while job vacancies fell to their lowest level in more than five years. On the latter, if excluding the Covid pandemic period, vacancies are at their lowest since late 20

First report: ‘Little chance’ of a falling unemployment rate until meaningful services job growth returns, says BNZ — interest.co.nz, 1d