17 July 2018

UK labour market consistent with August UK rate rise

3 min read

 
Margherita Orlandini, Corporate PR Manager, Royal London

Margherita Orlandini

Corporate PR Manager, Royal London

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Commenting on UK labour data, Melanie Baker, Economist at Royal London Asset Management said:

"The continued picture of low unemployment and decent employment growth in today’s UK Labour Market Report looks consistent with a Bank of England rate rise in August. The slower headline pay growth is unlikely to be enough to persuade a majority of MPC members to hold back.

Looking beyond the August meeting, Brexit risks remain a strong reason for caution on the UK outlook for the economy and markets. They may also ensure that we get another sizeable gap before the next rate rise."

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Margherita Orlandini, Corporate PR Manager, Royal London

About Royal London Asset Management (RLAM):

Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.

RLAM manages £117 billion of assets and employs 89 investment professionals. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.

For professional clients only, not suitable for retail investors.

Issued September 2018 by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.

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