The unemployment rate in the United Kingdom fell to 3.5% in the three months to August 2022, a new low since 1974 and lower than the previous period’s 3.6% and market forecasts of 3.6%. The rate of economic inactivity increased by 0.6 percentage point or 252K to 21.7%, the highest since records began in 1971, owing to people being sick… Read More »UK unemployment has reached levels not seen since 1974, but the pound is unfazed
The pound fell against the dollar on Wednesday, capping a six-day rally but remaining well off recent lows following the government’s U-turn on some tax cuts earlier this week. The pound fell 0.6% to $1.1404 (GBPUSD) and was little changed at 87.095 pence per euro (EURGBP). The pound has recovered some ground after falling to a record low of $1.0327… Read More »Sterling drops ahead of UK Prime Minister Truss’s speech.