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18th May 2026 18:14UKDaily Monitor
  • The sharp fall in payrolls in April looks misleading, as they are far weaker than surveys suggested.
  • Payroll revisions remain predictable, and April should eventually show jobs little changed month-to-month.
  • Falling jobs and dovish pay growth will keep the MPC on hold in June, but we expect wage gains to improve.

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Keywords for: 20 May 2026 UK Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence