We've got a two for one on big economics releases in the UK.
The three month ILO unemployment rate has dropped/risen to 7.1 per cent in the period to November, from 7.4 per cent prior, according to the Office for National Statistics.
Consensus estimates saw that three month rate falling to 7.3 per cent.
That's a pretty sharp fall in unemployment - to March 2009 lows - as August's eight per cent rate drops out of the three month average.
As the unemployment number creeps lower we get closer to the seven per cent level - at which the Bank of England will consider a rise in interest rates.
Here's our table:
|Single month level (000s)||Single month rate||Three month rate|
Yet still no policy change
The Bank of England has released the minutes from its 8 and 9 January monetary policy committee meeting.
They've said that there is no immediate need to raise rates if the threshold is hit soon in minutes from the January meeting.
A couple of ways to look at this.
On the one hand you have the question of whether rates are appropriate in terms of their economic impact, and on the other you have the Bank's credibility problem if it refuses to raise rates as the labour market improves.
Tinkering with its forward guidance is now becoming a real possibility - but one that would undermine the direction the Bank has attempted to give to markets.