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  • UK claimant count change stood at +86.6K in February
  • The unemployment rate in the UK dropped to 5.0% in January.
  • The UK  wages  excluding bonuses rose by 4.2% YoY vs. 4.4% expected.

The Office for National Statistics (ONS) showed on Tuesday, the UK’s official jobless rate eased to 5.0% in January vs. the previous 5.1% and 5.2% expected while the claimant count change showed a solid rise last month.

The number of people claiming jobless benefits jumped by 86.6K in February when compared to -20.8K seen previously. The claimant count rate came in at 7.5% vs. 7.2% last.

The  UK’s  average weekly Earnings, excluding bonuses, arrived at +4.2% 3Mo/YoY in Jan versus +4.1% last and +4.4% expected while the gauge including bonuses came in at +4.8% 3Mo/YoY  in Jan versus +4.7% previous and +4.9% expected.

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).