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Britain's labor market perked up in September

Britain's labor market perked up in September | 08 October 2020

08 October 2020, GBP/USD

Britain's labor market perked up in September

GBPUSD trading plan:

Britain's labor market perked up in September. Employers hired permanent staff at the fastest rate in nearly two years and temporary hiring also grew, the Recruitment and Employment Confederation and accountants KPMG said. "While it's encouraging to see a further recovery in hiring activity ..., it's concerning to see another rapid rise in total candidate availability," said James Stewart, vice chair at KPMG. A government support programme that paid up to 80% of the wages of temporarily laid-off employees ends this month and will be replaced by a less generous scheme that will require companies to shoulder much more of the bill. This is a positive signal for the British currency.

Trading recommendation: Buy 1.2938 and take profit 1.2980.

David Johnson
Analyst of «FreshForex» company
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