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UK unemployment rate continues to rise

This is a syndicated repost courtesy of Statista | Infographics. To view original, click here. Reposted with permission.

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.

rolling 3 month uk unemployment rate

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Skating on Thin Ice, Keep Life Preservers Handy

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.

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