Mohamed A. El-Erian
@elerianm
Rene M Kern Prof of Prac at Wharton. Allianz Advisor. Gramercy Chair. Chair of UnderArmour Board. Former Pimco CEO/co-CIO and President of Queens' Col Cambridge
Joined July 2011
1.2K Following 1.1M Followers
This morning's UK data for July highlights the growing weakness in Britain's labor market:
Payrolls fell by 13,000
Vacancies dropped to 707,000, a 5-year low
Earnings growth (ex-bonuses) slowed to 2.8%, the lowest rate in six years
The only relative bright spot—an unchanged unemployment rate of 4.9%—came with a caveat from the statistics office regarding data distortions.
#economy# #markets#
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