UK: Expect the unemployment rate to tick up to 5.0% - TDS

Research Team at TDS, suggests that the heavily lagged UK’s employment report will be a tricky one to read this month and next, as the 3 month moving average includes both pre- and post-Brexit data.

Key Quotes

“We expect the unemployment rate to tick up to 5.0% (consensus: 4.9%) from two months of 4.9%, while wage growth softens a touch with headline wage growth dipping below 2.0% y/y (consensus: 2.1%) while core wage growth falls to 2.1% y/y.”