UK: May labour report to show a stable 5.0% unemployment rate - TDS

Research Team at TDS, expects UK’s May labour report to show a stable 5.0% unemployment rate (mkt 5%) with risks skewed towards a drop to 4.9%.

Key Quotes                               

“Wages should continue to show healthier growth, with core wages at 2.4% y/y and headline wages rising from 2.0% in April to 2.4% in May (mkt 2.3%). The BoE’s July Agents Report is also out, and will provide on-the-ground insights into post-Brexit business activity in the UK.”