U.K. Employment Change 3M/3M (MoM) For September -207K Vs. -198K Est.; -82K Prior
Portfolio Pulse from Benzinga Newsdesk
U.K. employment change for the 3-month period ending in September showed a decrease of 207,000 jobs, which is worse than the estimated decrease of 198,000 and the prior decrease of 82,000. This indicates a significant worsening in the U.K. job market.
November 14, 2023 | 7:11 am
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NEGATIVE IMPACT
The iShares MSCI United Kingdom ETF (EWU) may be impacted by the negative employment data from the U.K., suggesting potential economic slowdown which could affect market sentiment.
The worse-than-expected employment change in the U.K. could lead to concerns about economic health and growth prospects, which may negatively influence investor sentiment towards assets related to the U.K. economy, such as EWU. The ETF, which tracks the investment results of an index composed of U.K. equities, could see short-term price pressure due to these concerns.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80