- The UK unemployment rate remained unchanged at 4.3% in October.
- The change in Britain’s jobless claimant count was 300 in November, well below the 28,200 expected.
- GBP/USD remains pressured towards 1.2650 after mixed UK employment data.
The UK unemployment rate remained unchanged at 4.3% in the three months from August to October, data released by the Office for National Statistics (ONS) on Tuesday showed. The reading was in line with the market estimate.
Additional details in the report showed that the number of people applying for unemployment benefits increased by only 300 in November, compared to a decrease of 10,900 in October, bettering the expected figure of 28,200.
The number of new employees was 173,000 compared to 253,000 in September.
Meanwhile, average earnings, excluding bonuses, in the UK grew 5.2% year-on-year in October against a 4.9% rise in September. The market forecast was for an increase of 5.0%.
Another measure of wage inflation, average earnings including bonuses, advanced 5.2% in the same period after rising 4.4% in September. The data exceeded the estimated growth of 4.6%.
GBP/USD reaction to UK jobs report
GBP/USD rose after the release to three-day highs at 1.2706. At the time of writing, the pair is trading above 1.2694, gaining 0.09% daily.
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.
