In February, UK payrolled employment rose 20k or 0.1% mom. Median monthly pay increased by 5.5% yoy. Annual growth in median pay was highest in the other service activities sector, with an increase of 7.4% yoy, and lowest in the finance and insurance sector, with a decrease of -0.3% yoy.
In the three months to January, unemployment rate ticked up to 3.9%, above expectation of 3.8%. Average earnings including bonus rose 5.6% yoy, slowed from 5.8% yoy, below expectation of 5.7% yoy. Average earnings excluding bonus rose 6.1% yoy, down from 6.2% yoy, below expectation of 6.2% yoy.
