MNI UK Labour Market Preview: March 2025 Release

Download Full Report Here

• Labour market data remains as relevant as it ever has been for monetary policy, but the official release has fallen down in terms of importance for policy makers as they look increasingly to survey evidence due to concerns over the reliability of the official release.
• We think the consensus expectation of 6.1%Y/Y in the 3-months to January looks plausible to us (we talk through the rationale).
• We also look in depth at other parts of the report and full sell-side expectations.