17 Jun 2015
UK wage growth sees a sharp increase – SG
FXStreet (Barcelona) - Kit Juckes of Societe Generale, reviews the UK wage growth data and the details.
Key Quotes
“UK wage growth, measured as a 3m average y/y rate, picked up sharply to 2.7% in April from 2.3%. The actual April y/y total is 2.9%, steady from last month excluding bonuses. NAIRU, absent for so long, may be back. Construction (5.3% y/y) and finance (4.7%) lead the way. That's a big contrast to the US - in the UK it's the two highest-paid broad sectors which are seeing the fastest pay growth.”
Key Quotes
“UK wage growth, measured as a 3m average y/y rate, picked up sharply to 2.7% in April from 2.3%. The actual April y/y total is 2.9%, steady from last month excluding bonuses. NAIRU, absent for so long, may be back. Construction (5.3% y/y) and finance (4.7%) lead the way. That's a big contrast to the US - in the UK it's the two highest-paid broad sectors which are seeing the fastest pay growth.”