Money Minute Tuesday 15 October: UK unemployment and German optimism

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Today in the UK, we get unemployment data for August.

The unemployment rate came in at just 3.8% last month. That’s the lowest level in about 45 years, and it’s likely to have remained around that level. Meanwhile, the annual pace of wage growth came in at 4% previously, the fastest rate seen since the 2008 financial crisis.

Markets will be watching for signs that gloom elsewhere in the economy is starting to affect the labour market.

That said, with all eyes on the ongoing “will they, won’t they?” Brexit drama, the figures are unlikely to have much short-term impact on the pound or the stock market.

Over in Germany, we get the ZEW Economic Sentiment index for October.  This gives a view of how big investors feel about the outlook for the German economy. In recent months, their view has been pretty pessimistic and that’s unlikely to change this month, as Germany’s economy has been hit particularly hard by the global manufacturing slowdown.