UK unemployment rate likely to be unchanged at 4.3% - Danske Bank

In the UK, the jobs report for November is being released today and there are some signs that employment is no longer increasing at the same pace as previously or possibly has even stagnated, suggests Senior Analyst, Morten Helt at Danske Bank.

Key Quotes

“So, in this jobs report we will look for signs of whether this was just transitory or not. We estimate the unemployment rate (three-month average) was unchanged at 4.3%. We estimate the annual growth in average weekly earnings ex bonuses (three-month average) declined to 2.2% y/y from 2.3% y/y, underlining that there is no big wage pressure present in the UK yet.”