A pretty good jobs report for the UK economy with total pay and regular pay growth up to +2.9 per cent.
This takes regular pay growth to its trongest level in 6 years.
Inflation is stuck at zero (and with a 0.4 reading to drop off next month, appears likely to turn negative) so real wages are now recovering well.
That said, with employment seemingly rising again, some level of inflationary pressure should return in time.
3m/3m employment increased by +42,000, meaning that total employment is set to recapture record highs, while unemployment is now 5.5 per cent, down from 6.2 per cent one year ago.
Decent report, and a nice little leg up for the pound.