UK: its non-jobs, not no jobs in 2Q20
- The unemployment rate remained at 3.9% again in June. Employment declined by 220k 3m-o-3m, but those people left the labour force, preventing a UR effect.- Total hours worked have crashed by 19% with underemployment rising, but only to levels usually consistent with about a 5% UR. Data from PAYE returns remain much worse but have little relationship with the official data.
- Vacancies have only bounced lightly from their lows. Maintaining this level would be consistent with the UR eventually spiking towards about 8%.
Heteronomics provides UK-centric macro research. A hallmark attention to detail delivers a depth of analysis beyond what the sell side now delivers. Clients can also experience events that privately provide insights on these topics. Have a bespoke request for research or an event? Let us know. Clients can expect assistance with their own requirements to the extent it doesn't impinge upon other clients. Think of it as retaining an expert economist, without the large overhead.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.