U.K. Employment Change 3M/3M (MoM) For March -177K Vs. -215K Est.; -156K Prior
Portfolio Pulse from Benzinga Newsdesk
The U.K. Employment Change for March showed a decrease of 177,000 jobs, which is an improvement compared to the estimated decrease of 215,000 jobs but worse than the previous period's decrease of 156,000 jobs.
May 14, 2024 | 6:07 am
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NEUTRAL IMPACT
The U.K. Employment Change data for March, showing a decrease of 177,000 jobs, may have a neutral to slightly negative impact on EWU as it indicates a better-than-expected job loss but still a worsening from the previous period.
The U.K. Employment Change data is directly relevant to the economic outlook of the U.K., which EWU, being an ETF that tracks the performance of U.K. stocks, is sensitive to. The mixed nature of the report (better than expected but worse than the previous period) suggests a neutral to slightly negative short-term impact on EWU as investors digest the implications for the U.K. economy.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 75