UK October payrolls change 33k vs -11k prior

<ul><li>Prior -11k; revised to 32k</li><li>September ILO unemployment rate 4.2% vs 4.3% expected</li><li>Prior 4.2%</li><li>September employment change +54k vs -198k expected</li><li>Prior -82k</li><li>September average weekly earnings +7.9% vs +7.4% 3m/y expected</li><li>Prior +8.1%; revised to +8.2%</li><li>September average weekly earnings (ex bonus) +7.7% vs +7.7% 3m/y expected</li><li>Prior +7.8%; revised to +7.9%</li></ul><p>The good news here is that UK labour market conditions are seen holding up in this latest snapshot, although there are some caveats to the data as noted <a href="https://www.forexlive.com/news/heads-up-uk-labour-market-data-later-this-month-will-have-a-similar-caveat-to-october-20231102/" target="_blank" rel="follow">here</a>. The jobless rate remains steady while wages data continue to run strong and the latter will keep the BOE on their toes in possibly needing to tighten further down the road.</p>

This article was written by Justin Low at www.forexlive.com.