In the previous release by the Office for National Statistics (ONS), the UK’s unemployment rate hit 3.9% – its highest level since November 2021-January 2022. The rise meant that economists saw the number of unemployed individuals in the UK rise to 1.329 million.
Markets are expecting the UK’s unemployment rate for April to remain unchanged, at 3.9%. Sterling watchers will be particularly keen to see if tomorrow’s data release meets expectations, as if not, this could trigger further volatility for the pound.
