- UK Unemployment Claims for October fell 29,800 from +36,000 expected
- UK wages, excluding bonuses, were up 1.9% yoy versus 1.5% expected.
- The unemployment rate in the UK rises to 4.8% in September.
The Office for National Statistics (ONS) showed Tuesday that the UK’s official unemployment rate rose to 4.8% in September versus 4.5% previously, matching the expected result, while the change in applicant count showed a surprise drop in October.
The number of people who applied for unemployment benefits fell by 29.8 thousand in September, compared to expectations of + 36 thousand. In August, requests had fallen by 40,200.
Average UK weekly earnings, excluding bonuses, were up 1.9% in the three year-on-year months July-September compared to + 0.8% previously and + 1.5% expected, while the indicator including bonuses grew by 1.3% in the same period compared to the previous + 0.1% and the + 1.1% expected.
GBP / USD reaction
GBP / USD has drawn a bounce of about 20 pips after the releases. First it has risen to 1.3196, approaching the Asian session day highs at 1.3198, and subsequently has fallen back to 1.3176. At time of writing, the pair is trading above 1.3178, gaining 0.14% on the day.
.
Credits: Forex Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
