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UK Labor Market Preview: Weak Inflation Weighs on UK Wage Growth
Not much change in the headline labor market figures is expected between April and May. The jobless rate is seen staying unchanged at 5.1% in the quarter to April, with jobless claims seen flat in May, compared with a decline of 2.4K a month before. Wages are expected to continue growing at a notably subdued pace compared with pre-crisis levels, with the total weekly earnings rising at the quarterly rate of just 1.6% in the three months to April, which would be down from 2% measured in March. Earnings excluding bonuses are estimated to have decelerated to 2% from 2.1%. BoE policymakers judged at their May Monetary ... (full story)