Britain Struggles with Employment

Sterling falls in forex trading

Today, employment data was released in Britain, showing continued deterioration in the situation. The sterling is falling in forex trading as a result, and concerns continue that Britain will be very slow to recovery from the global financial crisis.

GFT’s Boris Schlossberg reports in FX360 on the labor conditions in Britain:

Labor conditions in the UK economy remain challenging as the country recovers from its worst recession in the post war period. The UK economy returned to positive growth only last quarter – the last of the industrialized nations to do so, and even then, the country’s GDP posted only a meager 0.1% gain. The dour employment news suggests that growth may remain tepid for the foreseeable future, leaving the BOE stationary for 2010 and perhaps beyond.

Until things improve for the British economy, the U.K. pound is likely to struggle in currency trading, no matter how much risk appetite is available in the rest of the world.

See AlsoEconomic News and Forex TradingCurrency trading on the FX market