UK unemployment probably rise in August

The survey released last month, showed that the number of people unemployed rose to 1.68 million during the second quarter. The UK labour data seems not to have improved in August due to the increase on inward migration and a rise in the unemployment survey is expected for that month.

“The risks to economic activity in H2 are skewed to the downside”, said John Clarke, economic advisor at ODL Securities.

“The central market expectation is that the claimant count will rise by another 4,700 in August, and that average annual earnings growth in the three-months to July will pick up from 4.3% to 4.6%,” he concluded.