UK Wage Growth Accelerates

Wage growth in the UK is picking up, figures from the Office for National Statistics (ONS) indicate.

In the August-to-October period, average earnings excluding bonuses were up 1.6% from a year earlier. Including bonuses, earnings rose by 1.4%.

It is the first time for six years that both measures of earnings growth have been above the inflation rate.

Meanwhile, the number of people unemployed in the quarter fell by 63,000 to 1.96 million.

The fall was the slowest quarterly fall for a year, leading some analysts to speculate that the rate of improvement may have peaked.

The jobless rate was 6%, matching its lowest level in six years.

The ONS figures also showed that there were 30.80 million people in work in the three-month period, 115,000 more than for the May-to-July period, driven by more people in full-time work.

The number of people claiming Jobseeker’s Allowance in November fell by 26,900 to 900,100.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza