Eurozone & UK Unemployment

UK unemployment has fallen slightly, to 2.47m in the 3 months to July. The unemployment rate remains at 7.8%. In Europe, there has also been a slight fall.

The Pound rose slightly this morning when the figures were released, but continues to struggle due to worries over cuts and the recovery overall. Tomorrow’s retail sales figures, due at 9.30am, provide the next test for sterling.