Wage growth data is very much in vogue at the moment. An unexpected surge in US hourly earnings growth has been widely cited as being at least partly to blame for the recent market turmoil. And with the Bank of England increasingly pinning the chances of further rate hikes on accelerating pay growth (alongside Brexit progress), markets will also be watching Wednesday's UK jobs report closely. Alongside a further pick-up in employment growth (185k), we expect the key measure of wage growth (which excludes bonuses) to hold firm at 2.4%, although the risks definitely lie to the upside. A positive surprise would be ... (full story)