UK labour market likely to remain largely unchanged - TDS

The UK labour market likely remained largely unchanged in the three months to August, with headline wage growth stagnant at 2.1% y/y and the unemployment rate maintaining its record low of 4.3%, according to analysts at TDS.

Key Quotes

“Core wages (private sector ex-bonus) likely slipped a notch to 2.2% y/y. Continued weakness in real wage growth is likely to motivate some on the MPC to be less tolerant of strong inflation (Haldane, in particular).”

“Draghi, Coeuré, Praet are all at ECB conference “Structural reforms in the euro area” with appearances scheduled for 9:10am, 12:45pm, and 15:15pm BST, respectively.”