Search ForexCrunch
  • UK claimant count change arrived at -92.6K in May.
  • The unemployment rate in the UK dropped to 4.7% in April.
  • The UK  wages  excluding bonuses rose by 5.6% YoY vs. 5.3% expected.

The Office for National Statistics (ONS) showed on Tuesday, the UK’s official jobless rate dropped further to 4.7% in April vs. the previous 4.8% and 4.7% expected while the claimant count change showed a bigger-than-expect drop last month.

The number of people claiming jobless benefits showed a sharp decrease of 92.6K in May when compared to -15.1K seen previously. The claimant count rate came in at 6.2% vs. 6.4% last.

The  UK’s  average weekly Earnings, excluding bonuses, arrived at +5.6% 3Mo/YoY in March versus +4.6% last and +5.3% expected while the gauge including bonuses came in at +5.6% 3Mo/YoY  in March versus +4.3% previous and +4.9% expected.

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).