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UK: ILO unemployment rate stabilizes at 3.7% in November

  • 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.

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.

Source: Fx Street

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