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Welcome to Tuesday’s Money Minute.
In the UK, Parliament is due to be suspended from today. Meanwhile, UK employment data for the quarter to the end of July comes out. The unemployment rate is expected to remain at 3.9%.
Employment is a lagging indicator. Other economic data shows signs of a slowing economy before anything shows up in the jobless figures. With other data pointing to a slowdown recently, investors will watch closely for signs that the labour market is weakening too.
The other key figure to watch is wage inflation, which came in at 3.9% last time. It’s expected to be a little lower than that today, at closer to 3.8%. A significantly higher reading could raise concerns about wider inflation at the Bank of England.