UK unemployment rate to remain unchanged at 4.3% - TDS

Sandeep Kanihama FXStreet Contributor

Analysts at TDS are looking for the UK unemployment rate to remain unchanged at 4.3% once again in December (mkt also 4.3%) which would be its 5^thconsecutive month sitting at that level, although they see the risks of 4.2% being greater than the risks of a reversal up to 4.4%.

Key Quotes

“For wage growth, we’re looking for ex-bonus wages to hold steady at 2.4% y/y (mkt 2.4%) and for private sector regular pay – the measure the BoE watches most closely – to edge another tenth higher to 2.6% y/y. It’s worth noting that we’ve seen 9 consecutive months of positive m/m growth in ex-bonus wages, which is the longest such run since before the financial crisis.”

“So while the y/y pace of wages is still fairly moderate, momentum is pointing in the right direction. Also today, we have BoE testimony on the IR before the Treasury Committee starting at 2:15pm, featuring Governor Carney and Deputy Governors Broadbent, Haldane, and Tenreyro.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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