Forex News
Reports from UK reveal an improvement in the employment with the unemployment rate of 6.9%, lower than the expected 7.1%. The UK Average Earnings figures have increased which depicts the strength of the employment.
In March, the Average Earnings Excluding Bonuses increased by 1.4%, up from the level of 1.2% in February. The fall in unemployment signifies the strengthening of the British economy. The Bank of England has informed that it will not focus on unemployment as an objective for making its monetary policy decisions.
However, Bank of England will not ignore it, if the rate of improvement in the employment situation continues at the pace demonstrated on 16th April 2014. There is also a consensus that the growth is confined to the Southeast area surrounding London, an uneven jobs recovery due to the weaker areas of the remaining part of UK.
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