UK payrolled employment fell slightly by -3k in May, following -85k monthly decline in April. Annual growth rate of payrolled employment slowed further from 0.7% yoy to 0.6% yoy. Annual growth in median pay was at 5.2% yoy, down sharply from April’s 6.8% yoy. Claimant count jumped 50.4k, versus expectation of 10.2k.
In the three months to April, unemployment rate rose to 4.4%, above expectation of 4.3%. Average earnings including bonus rose 5.9% yoy, above expectation of 5.7% yoy. Average earnings excluding bonus rose 6.0% yoy, matched expectations.
