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10th Jun 2024 17:36UKDaily Monitor

  • The labour market appears to be easing gradually, with employment likely flat and unemployment rising.
  • Slowing underlying pay momentum is being masked by the temporary boost from April’s NLW hike.
  • A gradually easing labour market, and falling inflation, will allow the MPC to cut Bank Rate in August.

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Keywords for: 12 June 2024 UK Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence