Today’s employment numbers came in below market expectations which were centred on a rise of 13k. The headlinegrabber was the big lift in the unemployment rate from 6.0% in June to 6.4% (up 0.3ppts taking into account rounding).There is a lot of statistical ‘noise’ in today’s data and the figures sit at odds with the leading indicators; they should betreated with caution.
Read the full report: Economic Research