Proactive Investors - The FTSE 100 is expected to open higher on Tuesday after US markets rallied led by gains in tech stocks.
Spread betting companies are calling London's lead index up by around 10 points.
The early focus in London will be results from Legal & General, Just Group and 888 Holdings (LON:888).
Figures just out show a jump in the unemployment rate for April to June to 4.2% from 3.9% driven by the number of people unemployed for up to 6 months.
In a further sign the UK jobs market may be cooling the estimated number of vacancies between May and July fell by 66,000 on the quarter to 1,020,000. Vacancies fell on the quarter for the 13th consecutive period.
Headline indicators for the UK labour market for April to June 2023 show:▪️ employment was 75.7%
▪️ unemployment was 4.2%
▪️ economic inactivity was 20.9%
➡️ https://t.co/HNQFOg0iDP pic.twitter.com/lrYYlvbV2S
— Office for National Statistics (ONS) (@ONS) August 15, 2023
Not good news for the Bank of England on pay. Data from the Office for National Statistics also shows that between April to June 2023, annual growth in regular pay (excluding bonuses) was 7.8%; the highest regular annual growth rate since comparable records began in 2001.
Annual growth in employees’ average total pay (including bonuses) was 8.2% in April to June 2023; this total growth rate is affected by the NHS one-off bonus payments made in June 2023.