FTSE 100 futures undimmed by largest payroll drop since Covid 19

Delving further into the UK jobs report released a short while ago, the comments from the ONS (Office for National Statistics) have just noted the 109k fall in UK payrolls was the largest since 2020 and the onset of the Covid pandemic. That said, the ONS urge some caution over the collation of the data. Well, folks they would and that is because they are useless and not fit for purpose quite honestly. The GBP/USD has stalled on the downside for the time being and perhaps for that very reason? However, either way you cut this is was not good news and this analyst seems to think it is due to the lag effect of the April National Insurance and minimum wages rise. The FTSE 100 likes this though and that is because it does offer the prospect of another BOE rate cut this summer. The FTSE 100 closed yesterday at 8,832.28. The futures were in the red earlier, but they have edged higher following these reports