Average weekly earnings have turned positive for the first time in more than a year and United Kingdom employment remains at the highest level since comparable records began in the seventies. Sterling weakened as the data showed wages in the three months to February rose by 2.8 percent, unchanged from the growth rate in the three months to January and below a median forecast of 3.0 percent in a Reuters poll of economists.
'Accelerating wage growth, low and stabilising unemployment - the United Kingdom seems to be approaching full employment'. British households - whose spending is the main driver of the country's economy - have been hit by the double whammy of slow wage growth and a jump in inflation, due mostly to the fall in the value of the pound after the 2016 Brexit vote.
However, markets may be concerned that the drop in unemployment wasn't sufficient to boost overall wages already, which could signal a disconnect between employment levels and pay growth.
Markets and economists appear to be disagreeing over how positive today's United Kingdom wage growth figures are, with the former selling the Pound (GBP) while the latter claims a rate hike may be on the way; the EUR/GBP exchange rate has been able to hold opening levels as a result.
While this is a small rise, it is the first time since January 2017 that real wage growth has turned positive.
"We think that the MPC will judge that the upside news on pay growth and inflation cancels out the recent soft activity data - particularly since the latter has been distorted by a number of temporary factors of late. The unemployment rate fell, too, and is at its lowest since 1975".
This would undermine the Euro to Pound Sterling (EUR/GBP) exchange rate, with markets buying Sterling on the hopes of higher borrowing costs in May. This saw the Pound-to-Dollar rate quoted 0.04% lower at 1.4336, marking a reversal of an earlier 0.22% gain, while the Pound-to-Euro rate traded 0.11% lower at 1.1567. Since then, inflation has fallen faster than forecast, down from 3% to 2.7%, but the outlook for wage growth has firmed.
The markets are now pricing in an 85% chance of a Bank of England Base Rate rise next month. What is clear however, is that a failure to raise rates in May will be bad for Pound Sterling.
Tuesday's wage data adds fuel to the argument that the Bank of England will likely increase interest rates at the next meeting of its Monetary Policy Committee in the first week of May.
The singer was forced to take the time to focus on her pregnancy , so festival organizers wanted her comeback to be extra special. Beyonce a moment to prepare, she re-emerged being elevated to the stage in an unmistakable silhouette of three figures.
It comes after a suspected chemical attack in Douma, Syria, believed to have been carried out by the Syrian government . The UK is gearing up to take military action against Syria - and it could come as soon as Thursday.
They will face Real Madrid in the Champions League semi-finals and meet Hamburg in the last four of the German Cup. The Frankfurt coach said his move would have "no influence" on the team's remaining games of the season.
US President Donald Trump has threatened to kill NAFTA if it is not changed to secure better terms for USA workers and companies. The joint operation was in response to a suspected chemical attack in the city of Douma last week.
Cameroon officials are still working with the Australian Border Force to locate their eight missing athletes. CORRECTION: An earlier version of this story reported that the Cameroon team consisted of 24 athletes.
Thus an accumulation of ice is possible later on Saturday into Saturday night which will cause for some unsafe travel conditions. Hydro One says it has crews ready to respond to outages 24/7, and additional resources are on standby this weekend.
In response to the CBS report, U.S. lawmakers demanded information on how such system failures had persisted for so long. But an investigation by CBS's " 60 Minutes ", alleges fliers might be paying in safety for what they're saving in costs.
She was also Second Lady from 1981 until 1989 while her husband served as vice president in Ronald Reagan's administration. Former First Lady Barbara Bush has been battling health issues, but will no longer seek medical treatment.
A standard drink refers to 10 grams of pure alcohol , but a serving of alcohol usually differs from a "standard" drink. These limits are lower than the levels for many other countries, but this latest study suggests they are about right.
'Mission Accomplished' in Syria, Trump declares on Twitter
Wednesday: Russia's Foreign Minister Sergei Lavrov said Russian military inspectors found no evidence of a chemical attack. Any US strike would probably involve the Navy, given the risk to aircraft from Russian and Syrian air defenses.
How to Watch the 2018 ACM Awards
An exciting day after a tough six months for the industry since the deadly shooting in Las Vegas during a country music festival. Those up for Song of the Year this year are the songs "Body Like a Back Road", "Female", "Tin Man", and "Whiskey and You".
Warm Friday with rain heading this way
Forecasters said Saturday in the the metro area should be windy with rain and snow likely and a high in the mid- to upper 30s. That fog should burn off relatively early in the day as we warm up to a more seasonal high temperature tomorrow afternoon.
'Amadeus' director Milos Forman dies at 86
He followed up his success in 1979 with a film adaptation of the hit musical " Hair ", and then in 1981 with an adaptation of E. Forman's first USA film " Taking Off " (1971) was also filmed with non-actors but failed to impress a non-European audience.
Blizzard Warning for Schuyler, DC Area Starts at 4 AM
As North Platte and the surrounding area awaits predicted blizzard conditions, the weather is already starting to deteriorate. Dozens of school districts canceled classes ahead of snow accumulation expected to reach as much as 18 inches in some areas.
Gmail redesign could feature self-destructing emails
You'll know this if you've ever tried to say something to your smart speaker while someone else is talking at the same time. The main objective of the new design is to give users, a much more consistent user experience.
Seven, Foxtel pay $1.2bn on cricket rights
The AFR said a possible seven-year broadcast deal, worth as much as $1 billion, could be announced as soon as Friday. AdNews will keep track of cricket rights develops as they unfold today.