The British Pound is losing ground against the US Dollar for the second day in a row as pressure mounts on fresh UK employment data.
Data for February showed a rise in Claimant Count by 16.8K - the biggest since April last year. Overall, a moderate growth trend has now been in charge for a year, after almost a year of stagnation.
![图片11](https://production-app-asset.traderknows.com/images/74fae6b9d10d4a369f373db67cde88f4.width-800.png?Expires=1728334624&Signature=bARB9JVNprbx2RRoF4EMhC~frF9NyhIbM1wkJgpTyA9J-aLME3o9kXKCk~KesaQqVMDIqndF2xANXr-w2x-AvMuC6LjRPgbdtKLhuoTXG8HMXRk9RbbdxCmMQitFvVoTTQyJNwefj~yu4QnAEy8NcRCBmlgErwdb4Qg7TglvQHpvCTyHqODBJePqVFd39Q957fH6y6He3M5DF7sQzz5etm0Py7~f7OOblgvaxYaCL3Zyx9lTftduggl3wrfHAAU0Dg3qlHMzBSh1sWElYdm7eBK-fFI-qkjyRi85n694R5V4yca0nhTiiO2ylW09KRGah0dPp52GVOOhw5jPRQuQyQ__&Key-Pair-Id=K3LHBTUA5A7KEY)
The pace of wage growth has continued to slow. Earnings growth, including bonuses, slowed to 5.6% in the three months to January from 5.8% previously. This is the lowest rate in a year and a half and below the forecast of 5.7% but well above the historical average of 3.3%.
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At 3.9%, unemployment remains close to lows not seen since the mid-1970s.
On balance, the labour market indicators allow the Bank of England to ease monetary policy at a much earlier date while not fuelling speculation of an imminent or imminent economic contraction. Despite high interest rates, full employment is supporting domestic final demand, which accounts for over 80% of the UK GDP.
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