UK: Labour market to show continued tightness in the unemployment rate - TDS

In view of the analysts at TDS, UK labour market statistics for the three months ending January are out and they expect them to show continued tightness in the unemployment rate at a decade-plus low of 4.8% (same as consensus).

Key Quotes

“While wage growth continues to cool a little, taking headline wage growth to 2.3% y/y and ex-bonus wage growth to 2.4% y/y. This would leave real wage growth verging on zero for the year as a whole, after the 6-month rate fell into negative territory in December, which has put a squeeze on household spending as evidenced in the most recent retail sales data.”