- UK claimant count change arrived at +10.1K in March.
- The unemployment rate in the UK dropped to 4.9% in March.
- The UK wages excluding bonuses rose by 4.4% YoY vs. 4.2% expected.
The Office for National Statistics (ONS) showed on Tuesday, the UK’s official jobless rate eased to 5.0% in February vs. the previous 5.0% and 5.1% expected while the claimant count change showed a minor rise last month.
The number of people claiming jobless benefits showed an increase of 10.1K in March when compared to +86.6K seen previously. The claimant count rate came in at 7.3% vs. 7.3% last.
The UK’s average weekly Earnings, excluding bonuses, arrived at +4.4% 3Mo/YoY in Feb versus +4.2% last and +4.2% expected while the gauge including bonuses came in at +4.5% 3Mo/YoY in Jan versus +4.8% previous and +4.8% expected.
GBP/USD holds above 1.40 after UK jobless rate beats estimates with 4.9% in February
more to come …
About UK jobs
The UK Average Earnings released by the Office for National Statistics (ONS) is a key short-term indicator of how levels of pay are changing within the UK economy. Generally speaking, the positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).