Quotes from Standard Chartered: -Three-month UK unemployment for June to August is likely to have remained at 7. 7% after a surprise fall from 7.

8%, a level which had held since December 2012. This data release has been in focus since the Bank of England introduced its 7% unemployment threshold in its forward guidance on policy. Markets still believe that the threshold may be breached before the official forecast of late-2016.

-A number of forecasters expect another fall in unemployment, to 7. 6%. However, regional disparities in labour markets - 10. 4% unemployment in the Northeast versus 5. 8% in the Southeast - suggest that progress in certain areas may take longer. While average weekly earnings excluding bonuses rose by 1% y/y in the last release, inflation still exceeds income growth, which continues to weigh on consumption.  

2013-10-15 16:51