UK reported firm labor market data – BBH

Research Team at BBH, notes that the UK’s June unemployment rate was steady at 4.9% and earnings ticked up to 2.4% y/y, both as expected.  

Key Quotes

“While this is the first real sector data point that captures the impact of the Brexit vote, readings simply don’t show much impact yet.  Inflation readings reported yesterday were muted.  The next BOE meeting is September 15, and the lack of much new economic information should keep it on hold then.”