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In the United Kingdom, the average weekly earnings in August was 3.3% yoy. The figure for October is expected to improve. The LFS unemployment rate is expected to remain steady at 5.4% in the three months to September.
Whereas, a rise of 5k is expected to see from the more timely claimant count data for October, foreseen Societe Generale. This will be the third consecutive monthly increase in unemployment rate.
The BoE estimates, the long term equilibrium unemployment rate is "around 5%" - and thereby the total earnings growth should increase from 3.0% to 3.3% 3mth yoy in the 3 months to September. However, the regular pay growth is expected to remain steady at 2.8%, says Societe Generale.
