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Britain's unemployment rate has risen today for the first time since the coronavirus blockade began in March. The unemployment rate increased to 4.1% in the three-month period through July, from 3.9% since the beginning of 2020.
In our meeting of market strategies today, we concluded that job losses are likely to increase in September and October, when employers will have to pay more for the cost of the license scheme because "The number of people searching on Google for phrases like 'redundancy' skyrocketed to a record high in July, consistent with the previous form with the official layoff measure that peaked in September.
The Bank of England predicted that the unemployment rate will reach 7.5%. Therefore, more suffering is expected for the pound sterling ahead and for bullish sellers, unless some big Brexit news beats all bearish economic data.
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