UK June ILO unemployment rate 4.2% vs 4.5% expected
Prior 4.4% Employment change 97k vs 3k expected Prior 19k Average weekly earnings +4.5% vs +4.6% 3m/y expected Prior +5.7% Average weekly earnings (ex bonus) +5.4% vs +5.4% 3m/y expected Prior +5.7% July payrolls change 24k Prior 16k; revised to 14k The headline statistic is quite bewildering and it paints a stronger labour market than in the months before….