Market insights

UK Unemployment Rises Sharply - MI160424

This morning saw the UK unemployment rate report.

Analysts had predicted the rate would come in at 4%. However the actual number was 4.2%.

The rate was hit from both sides with both less people in work and more people classed as economically inactive i.e. not actively looking for work.

The next 24 hours sees a continuance of the big week of news.

There's Canadian inflation data out first followed by speeches from a number of central bank chair people and governors.

However it's the UK inflation number out at breakfast tomorrow that will be most closely monitored. Analysts are expecting the annualised growth to be confirmed at 3.1%.

Alongside the UK unemployment rate business news looks at the layoff of 10% of the workforce at Tesla as the EV market slows down.

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Economic calendar

CAN: 13:30 Inflation Report

UK: 18:00 BoE's Andrew Bailey Speech

CAN: 18:15 BoC's Tiff Macklem Speech

US: 18:15 FED's Jerome Powell Speech

UK: Wednesday 07:00 Inflation Report

As ever we look forward to keeping you in the loop and look out for our next update.

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