UK: Labour market to remain very tight - TDS

Analysts at TD Securities point out that the UK’s labour data for 19Q1 is released and will be a key economic release for today’s session.

Key Quotes

“We look for both the headline and ex-bonus wages to pull back to 3.3% y/y (mkt: 3.4% headline, 3.3% ex-bonus), while the "core" private sector ex-bonus measure remains unchanged at its recent high of 3.6% y/y.”

“We also look for the unemployment rate to remain unchanged at 3.9% (mkt: 3.9%). The labour market remains very tight, and will be one of the key factors pushing the BoE toward a November hike, in our view.”