The British labor market is showing signs of recovery. This is confirmed by the latest labor market report by REC/KMPG for November 2015. Masterforex-V Academy experts point to the fact that higher demand for skilled personnel is backing salary growth.
In the meantime, the value of the index reflecting the amount of those with full employment over a long period increased all the way up to 57.1 point in November 2015 as opposed to September’s figures of 55.2 points. The latest readings appear to have been the highest since April 2015, Market Leader reports. On top of that, the index reflecting the situation in the sector of part-time jobs grew up to 57.4 points in November 2015 as opposed to September’s figures of 55.6 points. With that said, the index set a new 6-moth high over the reporting period.
The next thing the report indicated is a decline in the level of salaries paid to full-time employees. The index dropped from 61.5 to 61.3 points over the same reporting period. When adjusted for seasonality, the highest full-time employment growth was seen in the North of the UK while the highest part-time employment growth was seen in the Midlands.
FOREX
Meanwhile, Masterforex-V Academy reports that the British Pound is still within the same long-term downtrend against the U.S. Dollars even though GBP managed to regain a bit of the lot ground shortly after the report came out.
GBPUSD is still developing a major downswing – wave 3/C of level Weekly2. The price is moving within he scope of a minor wave – b(C ) as a part of the mentioned major move. On breaking below the 1.4894 low, the currency pair going to extend the current move. If that’s the case, the price may find the bottom around 1.4887, 1.4736/26 as well as the 1.4565 low. Alternatively, a break above the local 1.5158 high and the top of the descending MF sloping channel will put an end to the downward move. In this case, MF pivot 1.5335. will be considered as the next major level of resistance.
