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Labour market data due at 7:00BST

UK

Labour market data at 7:00BST is likely to show further falls in employment and a rise in unemployment from 3.9% to 4.1% according to the Bloomberg survey. However, as we have previously argued we think it is the aggregate hours number that is worth watching here and that may show some tentative signs of picking up. The data will cover the 3-months to July and with large parts of the economy reopening on 4 July, hours should have seen a boost relative to the April hours which will be dropping out of the data. However, the extent of the rebound is currently unclear.

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