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GBP/USD: The unemployment rate in August decreased, leading to a
UK employment figures recover slightly
The UK unemployment rate continues to fall, with new jobless claims at 24,000, compared to the expected 230,000. The unemployment rate in August was 4.2%, slightly lower than the previous month's forecast of 4.3%.
Britain's labor market is easing, another sign that monetary tightening is starting to have an impact on the economy. Central banks agree that a period of low growth and easing labor markets is needed to bring inflation back to target. Slower growth would help prevent the BoE from being forced to raise interest rates as inflation falls sharply around the world.
The UK unemployment rate continues to fall, with new jobless claims at 24,000, compared to the expected 230,000. The unemployment rate in August was 4.2%, slightly lower than the previous month's forecast of 4.3%.
Britain's labor market is easing, another sign that monetary tightening is starting to have an impact on the economy. Central banks agree that a period of low growth and easing labor markets is needed to bring inflation back to target. Slower growth would help prevent the BoE from being forced to raise interest rates as inflation falls sharply around the world.
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