UK: Focus on labour market data - TDS

Research Team at TDS, suggests that markets should start paying more attention to UK labour market data as we expect that to be the first place where business uncertainty affects macro data.

Key Quotes

“We don’t expect to see much weakness yet though, with jobless claims remaining close to flat. Although with the unemployment rate coming in at 4.949% for August, the risk of it edging up to 5.0% is higher than the risk of it slipping to a new post-crisis low of 4.8%.”