All the day’s economic and financial news, including the latest UK labour market report which will probably show real wages are falling
Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.
Britain’s cost of living squeeze will be dragged back into the spotlight today, when the latest employment data is released.
Unless last month’s gains somehow turn out to be a total blip, it wouldn’t be too surprising if the level of employment rises again by close to a triple-digit number of thousands in the three months to April.
The rotation of workers out of part-time roles into full-time employment is now an established theme and if we see this trend once more it would imply that slack is being partially eroded as a result of reduced ‘underemployment’.
“We do expect her to try to be somewhat forceful in conveying…to market participants that their skepticism over hikes after the June meeting may not be warranted.”
Tomorrow at 2:30 p.m. ET: Chair #Yellen hosts live #FOMC press conference: https://t.co/AknBNh2ef4 pic.twitter.com/mOjT9owfyr
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