The drop in the ILO unemployment rate to 7.7% in the three months to July is consistent with signs of economic recovery and takes the rate closer to the MPC’s 7% threshold. But with scope for a rebound in productivity and evidence that this is happening, we think that it will take a long time for the jobless rate to fall to 7%.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services