FLASH: hours distort UK wages in 3m to Apr-18
- The unemployment rate remained at 4.2% in April, but supportive cohort effects and the best underlying trend in two-years makes another fall likely in Q2.- Actual average hours dipped in the three months to April, probably amid the lousy weather and Easter. Usual hours were unchanged, so a rapid rebound is likely.
- Wage growth slowed by a tenth, with the hours effect probably partly responsible. Pay settlements strengthened significantly in April and should support its recovery.
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