UK payrolled employment grew 97k, or 0.3% mom in July. June’s figure was revised from -9k decrease to 47k increase. Median monthly pay rose 7.8% yoy compare with July 2022, down from prior month’s 9.7% yoy. Claimant count rose 29.0k, above expectation of 19.6k.
In the three months to June, unemployment rate rose to 4.2%, above expectation of 4.0%. That’s 0.3% higher than previous quarter. Employment rate rose 0.1% to 75.7%. Inactivity rate fell -0.1% to 20.9%. Average earnings including bonus rose 8.2% 3moy, above expectation of 7.3%. Average earnings excluding bonus rose 7.8% 3moy, above expectation of 7.4%.
