Unemployment continued to fall across the developed world but in all cases remains about what should be considered full employment. I am reassured by these trends. If we started to see unemployment rising across the globe, this would be indicative of economic growth stalling and perhaps the proverbial ‘canary in the coalmine’ with respect to a looming global recession. Employment conditions continuing to improve with inflation pressures remaining benign or weak should be conducive for equity markets.
Published in Investment Letter, December 2015
The views expressed in this communication are those of Peter Elston at the time of writing and are subject to change without notice. They do not constitute investment advice and whilst all reasonable efforts have been used to ensure the accuracy of the information contained in this communication, the reliability, completeness or accuracy of the content cannot be guaranteed. This communication provides information for professional use only and should not be relied upon by retail investors as the sole basis for investment.