The UK releases the May employment report on Tuesday. UK job growth has been contracting for some time and the trend is expected to continue in May. Job growth is expected to fall by 100 thousand in the three months to April, after a decline of 178 thousand in the previous release. The weaker labor market will make it easier for the Bank of England to start to lower rates, but wage growth remains high and that is feeding inflation. Wage growth is expected to creep up to 6.1% in the three months to April, up from 6% in the three months to March. Although the overall trend for wages has been down, it is still ... (full story)