- The UK wages excluding bonuses rose by 3.4% y/y compared to 3.4% y/y expected.
- The UK wages including bonuses rose by 3.4% y/y compared to 3.2% y/y expected.
- The UK unemployment rate dropped to a four-decade low of 3.9% in January.
The Office for National Statistics (ONS) showed on Tuesday, the UK’s average weekly earnings, excluding bonuses met expectations, arriving at 3.4% 3m y/y versus 3.4% last and 3.4% expected while the gauge including bonuses came in at 3.4% 3m y/y versus 3.4% previous and 3.2% expected.
The Kingdom’s official jobless rate dropped to 3.9% in January, while the claimant count change showed a bigger-than-expected increase.
The number of people claiming jobless benefits rose sharply by 27k in February, against expectations of a 2.7k increase and +14.2k seen previously. The claimant count rate rose to 2.9%.
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