UK: Strong jobs growth to continue and wage growth to pick up - Nomura

Analysts at Nomura are out with their expectations on today’s UK labour market report due to be released at 0930 GMT.

Key Quotes:

“The January labour market report revealed a generally upbeat set of numbers. Private sector regular pay growth rose to between 3% and 4% (based on 3m, 4m, 5m and 6m average annualised rates), while employment rose by around 100k over the latest published rolling quarter.

We expect strong jobs growth to continue (+150k q-o-q) and wage growth to pick up (regular pay 2.6% y-o-y up from 2.3%) as the economy expands at or modestly above what is believed to be its trend rate.”