UK unemployment rate beats with 3.9% in June

The UK has reported mixed labor figures. The unemployment rate remained depressed at 3.9% in June, a result of the government’s furlough schemes. Wages dropped by 1.2% when including bonuses and -0.2% when excluding them. 

The Claimant Count Change for July disappointed by leaping by 94,400, far worse than 10,000 projected. That is a concerning sign moving forward.