UBS: Unemployment to get much worse yet
Via the excellent George Tharneou at UBS: Unemployment 7.4% (after 7.1%), highest since 1998; underutilisation 19.1% Despite the rebound of jobs, the unemployment rate still lifted significantly, albeit ~as expected (UBS: 7.4%, mkt: 7.3%), to 7.4% in June, the highest since 1998, after 7.1% in May, and 5.1% in February.