Further decrease in UK unemployment rate - BNP Paribas

FXStreet (Łódź) - Catherine Stephan, economist at BNP Paribas, comments on the UK jobs data released in the European morning and showing a drop in the unemployment rate from 6.4% in June to 6.2% in July, the lowest level seen since the autumn of 2008.

Key quotes

"(The unemployment rate fell) despite the slowdown in the pace of increase in employment(+74,000 q/q, or 0.2% q/q)."

"Conditions on the labour market are expected to remain favourable."

"We thus expect that the pace of increase in earnings slightly rise."