UK Jobless Rate Steady At 42-Year Low, Wage Squeeze Continues
2017年10月18日 - 05:11PM
RTTF2
The UK unemployment rate held steady at the lowest level since
1975 and the wage squeeze continued, data from the Office for
National Statistics showed Wednesday.
The ILO jobless rate came in at 4.3 percent in the three months
to August, the lowest since 1975, and in line with expectations. In
the same period of 2016, the rate was 5 percent.
The number of unemployed decreased by 52,000 from March to May
to 1.44 million.
At the same time, people in work increased to 32.1 million. As a
result, the employment rate rose to 75.1 percent from 74.5 percent
a year earlier.
Data showed that total earnings, including bonus, increased 2.2
percent in the June to August period from the previous year,
slightly better than the expected increase of 2.1 percent.
Excluding bonus, earnings grew 2.1 percent.
The wage growth continues to stay well below the inflation,
which was at 3 percent in September.
While headline inflation is expected to peak at 3.1 percent next
month, the gap between CPI and wage growth is likely to stay fairly
wide for some time to come, James Smith, an ING economist,
said.
This will keep a lid on consumer spending and there may be
further evidence of this in Thursday's retail sales report, as
households continue to take a cautious approach to discretionary
spending, the economist noted.
Despite continued robust growth in employment there is no sign
of second round effects onto wages from higher recent inflation,
BoE's newly appointed Deputy Governor Dave Ramsden told lawmakers
on Tuesday.
Given the tightening in the labor market, the Monetary Policy
Committee will follow through on its suggestion that it could raise
interest rates "over the coming months", with the first 25 basis
point hike set for November, Capital Economics' Andrew Wishart
said.
Data showed that the claimant count rate came in at 2.3 percent
in September. The rate has been at 2.3 percent since April. The
number of people claiming unemployment benefits increased by 1,700
from August.
CAD vs Yen (FX:CADJPY)
FXチャート
から 2 2024 まで 3 2024
CAD vs Yen (FX:CADJPY)
FXチャート
から 3 2023 まで 3 2024