UK: labour market tighter than BoE believes
- The unemployment rate returned to its lows at 3.8% in Sep-19 while declines in broader measures of underemployment intensified.- Experiences of repeat respondents are much better than the headlines suggest. Their fall in unemployment is sharper, and employment flows have been steady even while the stock data dipped. Sampling effects exaggerate recent weakness.
- Falling vacancies are especially concerning to the BoE, but these should rebound as uncertainty fades with little harm done. Doves on the MPC are overreacting to the temporary data distortions ahead of Brexit, in my view.
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.