Previous Trading Days Events 12.03.2024

Unemploymentrelated benefits Claimant Count are higher for February 2024 period than previous and with lower average earnings reported. The unemployment rate for the U.K. rose to 3.9 from 3.8 . The labour market slowed sharply in February as recruitment firms reported the biggest drop in demand for staff from employers since the coronavirus lockdown of early 2021.

From December 2023 to February 2024, the estimated number of vacancies in the U.K. fell by 43,000 in the quarter to 908,000. Starting salaries for permanent staff rose at the weakest rate since March 2021. Expected wage growth for companies in the BoE survey was unchanged at 5.2 for the coming year on the threemonth moving average basis which the BoE focused on, although on a singlemonth basis, it dropped to 4.9, the lowest since May 2022.

This months survey shows the market slowing, and a concerning increase in the decline in temporary billings, REC chief executive Neil Carberry said.

Source httpswww.reuters.comworldukuklabourmarketlosesmoremomentumfebruaryrecsurveyshows20240311

According to the U.S. inflation report yesterday, S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, figures that could delay an anticipated June interest rate cut from the Federal Reserve.

The consumer price index CPI rose 0.4 last month after climbing 0.3 in January. Gasoline and shelter, which includes rents, contributed more than 60 to…