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14th Oct 2024 17:28UKDaily Monitor

  • The official labour-market data tell a comforting story of improving labour supply and falling wage growth.
  • But the LFS data are too unreliable to take seriously, and AWE seems to exaggerate the slowdown in pay.
  • The MPC has enough to cut rates in November, but the data fog will restrict easing to once per quarter.

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Keywords for: 16 October 2024 UK Monitor

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