U.K. unemployment rate 16-years high

Wednesday, 18 January 2012 01:53

British Office for National Statistics reported today 8.4% unemployment rate, up from 8.1% in previous reading.

In total it shows 2.68 million people without work, increased by 118 000 in last quarter of 2011. It is the highest unemployment reading in last 16 years.

The average earnings grew by seasonally adjusted 1.9% comparing with year earlier. It is 0.1% higher than October reading.

The couple GBP/USD was traded at 1.5354 after news release.