UK labour market report: Claimant count May 2018 -7.7k vs 11.3k exp

May 2018 UK labour market report 12 June 2018

Prior 31.2k. Revised to 28.2k
April ILO unemployment rate 4.2% vs 4.2% exp. Prior 4.2%
Average weekly earnings 2.5% vs 2.6% exp 3m y/y. Prior 2.6%
Ex-bonus 2.8% vs 2.9% exp. Prior 2.9%
Employment change 146k vs 110k exp. Prior 197k

ONS notes;

In real terms, total pay growth was -0.1, regular was 0.2% (using CPI measure)
Both Incl and Excl bonuses wages continued to increase slighly ahead of inflation (using CPIH measure)
Unemployment fell 38K versus 3M-to-Jan 2018 and now at 1.42M
Inactivity rate fell 0.2% Q/Q, to joint record low of 21.0%
Vacancies rose 2K Q/Q to 818K
Long-term unemployment rose 6K Feb-Apr 2018, first time since Sep-Nov 2017 (3K)

A mixed bag in that there was strong labour growth but a touch of softening on wages. Nothing earth shattering though, hence why GBP had a minor wobble but a quick recovery. The real terms pay growth is still the wrong side of inflation, which keeps a little bit of pressure on the BOE and their hike hopes.