UK: ILO unemployment rate stabilizes at 3.7% in November

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  • The UK unemployment rate stood at 3.7% in November.
  • The number of job seekers in the UK was 19,700 in December.
  • UK wages excluding bonuses rose 6.4% year-on-year in November, versus 6.3% expected.

According to the latest data published by the National Statistics Office (ONS) on Tuesday, the UK unemployment rate unchanged at 3.7% in November, matching the 3.7% expected, while the claimant count showed a decline in the reported month.

The number of people applying for unemployment benefits increased by 19,700 in December, compared with an expected 30,500 who did so in November.

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UK median weekly earnings excluding premiums came in at 6.4% in the three months to September, up from 6.1% previously and 6.3% expected, while the gauge including premiums came in at 6.4%. vs. 6.1% prior and 6.1% expected.

Featured Comments (via ONS)

The number of vacancies between October and December 2022 was 1,161,000, which represents a decrease of 75,000 compared to July-September 2022. Despite six consecutive quarterly falls, the number of vacancies remains at historically high levels .

UK payrolls change by 28,000 in December vs 107,000 previously.

GBP/USD reaction

The GBP/USD rallied after mixed UK jobs data, rising back to 1.2208, gaining 0.11% at time of writing.

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Source: Fx Street

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