UK: Focus on labour market report – Danske Bank

Research Team at Danske Bank suggests that the focus of investors will be on the release of UK labour market report for October.

Key Quotes

“The labour market has been quite resilient to Brexit uncertainties so far, although the increase in claimant counts in recent months may be a bit worrying. This said, we estimate the unemployment rate (3M average) rose back to 4.9% from 4.8%, as the very low single-month print in July is likely to have fallen out of the three-month average. We estimate average weekly earnings excluding bonuses (3M average) rose 2.5% y/y in October, up from 2.4% y/y in September.”