UK Labor Market Beats Expectations Across the Board
UK unemployment fell to 4.7% vs 4.9% expected, employment surged +102K vs +5K est, and payrolled employees beat significantly — a broadly strong labor report with wages roughly in line.
What we know
Multiple an account on X releases showed UK ILO unemployment at 4.7% (est 4.9%), employment change at +102K vs +5K expected, and payrolled employees at +13K vs -8K est. Wages came in at 3.7% ex-bonus (beat est), while claims ticked up modestly. Taken together, the data suggests a resilient UK labor market and complicates the Bank of England's path to further rate cuts.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.