Commenting on the UK Labour Market data released this morning, Melanie Baker, senior economist at Royal London Asset Management, said:
“Today’s data provides a bit of reassurance on the health of the economy and sustainability of consumer spending growth.
“The unemployment rate was steady and there was a strong increase in employment over the three months to November, but the numbers feel a bit dated given this is largely pre-election data.
“As for whether the Bank of England will or won’t cut rates next week, economists in the UK will be closely monitoring the business surveys later this week for further clarity.”
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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