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UK Comment - Labour market numbers mixed

  • Employment growth disappointed - unemployment rate up to 4.4%
  • Timelier claims and survey measures indicate further improvement
  • Wage growth on the strong side of expectations – base effects will pull up in the short term

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UK Comment - Labour market numbers mixed

 

Kari Due-Andresen

Chief Economist Norway

Norway and UK

kadu01@handelsbanken.no

Latest analyses

2018-02-21

UK Comment

2018-02-16

Macro Comment UK

2018-02-15

Morgenrapport Norge

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UK Comment — Labour market numbers mixed

  1. Employment growth disappointed - unemployment rate up to 4.4%
  2. Timelier claims and survey measures indicate further improvement
  3. Wage growth on the strong side of expectations – base effects will pull up in the short term

Kari Due-Andresen, Chief Economist Norway | kadu01@handelsbanken.no

EMU Comment — Largest decline in PMI in five years

  1. Elevated levels from previous months hard to sustain
  2. Weakness was broad based
  3. Only market jitters? ...ECB probably not overly concerned

Rasmus Gudum-Sessingø, Senior Economist | ragu02@handelsbanken.dk

Fast Comment Norway — Labour force survey shows unemployment stabilising

  1. LFS unemployment at 4.1 percent in December, unchanged from November
  2. In line with market expectations, but higher than anticipated by Norges Bank
  3. However, registered unemployment was lower than expected; in all, neutral to the key policy rate

Marius Gonsholt Hov, Senior Economist | maho60@handelsbanken.no

Fast Comment Sweden — Inflation in January

  1. Inflation lower than expected...
  2. ...but this is partly due to the change in the CPI basket composition
  3. Worrying signs for future trends, mixed with positives; plenty of time for the Riksbank to digest the outcome

Johan Löf, Senior Economist | jolo22@handelsbanken.se

Fast Comment Finland — Employment growth continues to be a bright spot

  1. Unemployment rate (SA) 8.5 percent in January
  2. Employment and labour force growing rapidly
  3. Employment outlook is favourable despite growing matching problems

Janne Ronkanen, Senior Economist | jaro06@handelsbanken.se