U.K. unemployment rises to 8%, the highest level since 1996, with average hourly earnings up...

|By:, SA News Editor

U.K. unemployment rises to 8%, the highest level since 1996, with average hourly earnings up 2.3% Y/Y. The youth unemployment rate hit an all-time record, now pushing nearly 20%. The data should give the doves on the BoE more reason to refrain from rate hikes. Cable is flat at $1.6077.