UK unemployment fell by 75,000 in the three months.
The unemployment rate in the U.K fell by 75,000 in the three months to July, the lowest rate of unemployment in 42 years. However the impressive figure isn't enough to maintain British workers standard of living.
Basic salaries rose an annual 2.1 percent in the three months and remain unchanged from Q2 which is below market forecasts. Statistics shows that pay fell 0.4 percent after adjustments for inflation, which is clocking further economic growth.
Even though inflation is strong reaching 2.9% in August near a five-year high, and there is a minority in favour of a rate hike now, the Bank of England decided to keep interest rates fixed at 0.25% on Thursday. Analysts believe a rate hike in November could be possible, depending on the next round of data as Brexit uncertainty is clearly still weighing on the economy.
The next few months will be very interesting and GBP is likely to provide some excellent opportunities as things develop.
Monitor the markets and get insights with the Yadix Economic Calendar: http://www.yadix.com/forex-trading-community/economic-calendar/
No comments:
Post a Comment