GBP: Will the UK’s labour market remain strong?


The UK’s labour market has remained resilient and that can be partly attributed to labour shortage in the hospitality sector increasing wages. Similarly, transportation has seen a skills shortage that has pushed up wages. Of 37 analysts polled, expectations range from 3.7% to 3.9% for unemployment. Employment change figure is session as 65K, but expectations range from -20K to +150k. The average weekly earnings are expected to come in at 3.7% and average earnings ex-bonus 3.8%. Any significant deviation from these expected points has the potential to move the GBP. If the UK’s, until now strong labour market, shows signs of wavering GBP would fall across the board and sellers would jump on that opportunity.