The latest employment figures released today by the UK’s Office for National Statistics reveal a continued rise in the unemployment rate. In June-August the figure rose to 4.5 percent – 0.6 percentage points higher than a year earlier and 0.4 percentage points higher than the previous quarter. The ONS says an estimated 1.52 million people were unemployed in the period, up 209,000 on the year and up 138,000 on the quarter.
This chart shows the unemployment rate in the UK.
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We may be skating on very thin ice here, but the weight of the evidence still supports a weak bull case for the near to intermediate term. So I’m adding buy picks on the chart pick list and adjusting trailing stops to account for the risk.
These reports are not investment advice. They are for informational purposes, for a broad audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance.