UK Unemployment Falls by 4K Rate Still 7.8 Percent

UK unemployment fell by a small 4,000 in the three months to June leaving 2.51 million out of work, says the Office for National Statistics (ONS).

The number of people claiming Jobseeker’s Allowance in July fell more sharply, down by 29,000 to 1.4 million.

The unemployment rate remains at 7.8%, still well above the 7% rate target set by the Bank of England.

The Bank’s governor, Mark Carney, says interest rates are unlikely to rise before that target is reached.

The ONS said the figures meant unemployment was “broadly unchanged” from the first three months of the year.

The number of people in work increased by 69,000 in the three months to June, up to 29.78 million. That is the highest level since records began in 1971.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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