Commenting on today’s UK labour market figures, Melanie Baker, senior economist at Royal London Asset Management, said:
“Analysts have been expecting a bit of deterioration in the official UK labour market data for a while given heightened levels of uncertainty for businesses and indications from business surveys of fading employment intentions. The Q1 headlines were solid – particularly the lower unemployment rate. However, there were signs of deterioration under the surface and earnings growth slowed again, which will help contain any pressure on the BoE to raise rates.”
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 £139 billion of assets and employs 113 investment professionals as at end July 2020. 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 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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