The Pound chose to fall. Overview for 17.08.2021

GBPUSD boosted its decline after the United Kingdom released some mixed employment statistics. 

The British Pound is falling against the USD on Tuesday afternoon. The current quote for the instrument is 1.3790.

The statistics published in the morning showed that the Unemployment Rate in the UK in June was 4.7% after being 4.8% in the previous month, although it wasn’t expected to change. The Average Earnings Index added 8.8% 3m/y after expanding by 7.4% 3m/y earlier and against the expected reading of 8.6% 3m/y.

The Claimant Count Change in June showed -7.8K after being -114.8K in May and against the expected reading of -84.1K. 

The latest report seemed to be the problem: the labour was expected to be more dynamic in its recovery. 

Earlier this month, the Bank of England said that unemployment had reached its peak and would eventually go down. It’s important because September was going to be the last month when people that lost their jobs received subsidies. Of course, it may cause some problems in the employment sector but the British regulator sees no problem here. 

According to ONS, the number of vacancies in April-June reached its pre-COVID values and was 953K, which is 168K more than before. The country’s economy is slowly ending its isolation but skilled personnel is still difficult to find.