The ILO unemployment rate falls to 4.6% in July, meeting forecasts

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The Unemployment claims in the UK fell by 58,600 during the month of August, without achieving the market consensus figure, which expected a decrease of 71,700. In July, jobless claims fell by 7,800.

The ILO unemployment rate for July fell one tenth, as expected, from 4.7% in June to 4.6%, its lowest figure since August 2020.

The wages including bonuses rose 8.3% in the May-July quarter, exceeding the 8.2% expected and below the previous 8.8%. Earnings excluding bonuses increased 6.8% versus 7.4% previously, meeting expectations.

GBP / USD reaction

The GBP/USD It reacted to the mixed UK employment data with a slight drop of just 10 pips, which nonetheless brought it to a daily lows of 1.3829. Earlier this Tuesday, the pair had touched a daily high of 1.3850 in the Asian session. At time of writing, the pound is trading against the dollar above 1.3833, losing 0.05% daily.

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