UK Wage Growth Accelerates as Labor Market Cools

The transcript discusses inflation pressures affecting the Bank of England, with average earnings rising by 6.7%. Market reactions to BOE bets and commentary from Hugh Pill suggest a potential end to the tightening cycle. The labor market remains tight but shows signs of cooling, impacting government priorities like reducing inflation and NHS waiting lists. Economic inactivity due to long-term sickness and industrial action poses additional challenges.

What has been the trend in average earnings excluding bonuses in the UK as of March compared to the previous year?

How have the Bank of England's bets changed in response to the labor market data?

What is Richard Sunak's primary goal regarding inflation, and how does the current economic situation affect this?

What record high number is concerning for the government regarding economic inactivity?

How are strikes affecting the economic situation in the UK, particularly in relation to GDP?