UK unemployment as expected

14 December, 2011


This morning’s UK unemployment figures showed the number of Britons out of work at its highest total for 17 years, but the overall rate of 8.3% was no worse than expected. Sterling fell slightly on the figures, although against the Euro in particular we still have excellent rates for sending payments abroad, after Angela Merkel yesterday rejected any increase to the European Stability Mechanism, causing further weakness in the single currency.