- The UK unemployment rate fell to 4.1% in the three months to July.
- The change in the number of job seekers in Great Britain was 23,700 in August.
- GBP/USD receives fresh bids towards 1.3100 following mixed UK jobs data.
The UK unemployment rate (ILO) fell to 4.1% in the three months to July, down from 4.2% in June, according to data published on Tuesday by the Office for National Statistics (ONS). Markets had expected a reading of 4.1% in the reporting period.
Additional details in the report showed the number of people filing for unemployment benefits rose by 23,700 in August, compared with a revised increase of 102,300 in July, well below the expected figure of 95,500.
The Employment Change data for July stood at 265,000, compared to 24,000 in June.
Meanwhile, UK Average Earnings Excluding Bonuses rose 5.1% year-on-year in July compared with 5.4% growth seen in June. The reading was in line with expectations for a 5.1% increase.
Another measure of wage inflation, Average Earnings Including Bonuses, also rose 4.0% in the same period after reporting 4.6% growth in the quarter to June. The market forecast was for +4.1%.
GBP/USD reaction to UK employment report
GBP/USD receives fresh offers in an immediate reaction to mixed UK jobs data. The pair is trading 0.07% higher on the day at 1.3080, as of writing.
Pound Sterling PRICE Today
The table below shows the exchange rate of the British Pound (GBP) against major currencies today. The British Pound was the strongest currency against the Canadian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.03% | -0.04% | -0.10% | 0.05% | -0.09% | -0.10% | -0.12% | |
| EUR | 0.03% | -0.00% | 0.02% | 0.08% | -0.06% | -0.12% | -0.09% | |
| GBP | 0.04% | 0.00% | 0.02% | 0.05% | -0.05% | -0.10% | -0.07% | |
| JPY | 0.10% | -0.02% | -0.02% | 0.05% | -0.08% | -0.12% | -0.11% | |
| CAD | -0.05% | -0.08% | -0.05% | -0.05% | -0.15% | -0.16% | -0.17% | |
| AUD | 0.09% | 0.06% | 0.05% | 0.08% | 0.15% | -0.03% | -0.02% | |
| NZD | 0.10% | 0.12% | 0.10% | 0.12% | 0.16% | 0.03% | 0.00% | |
| CHF | 0.12% | 0.09% | 0.07% | 0.11% | 0.17% | 0.02% | -0.01% |
The heatmap shows percentage changes of major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the chart will represent the GBP (base)/USD (quote).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
