UK: Expect a further drop in the unemployment rate to 4.2% - Danske Bank

Analysts at Danske Bank point out that in the UK, the labour market report for October is due to be released, where they expect a further drop in the unemployment rate to 4.2%.

Key Quotes

“It is likely to be accompanied by continued modest growth in average weekly earnings of 2.2% y/y, meaning that real wage growth will continue to be negative.”

“In the UK , discussions on the government's EU withdrawal bill, which repeals the European Communities Act 1972, continues today. The opposition and Conservative rebels want a meaningful vote in Parliament on the final Brexit deal and PM Theresa May might have to give some concessions here.”