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United Kingdom: Unemployment meets forecasts and rises to 4.3% from January to March

  • The unemployment rate in the United Kingdom rose to 4.3%.
  • GBP/USD falls to two-day lows at 1.2509.

The U.K.'s Office for National Statistics reported Tuesday that the ILO unemployment rate rose to 4.3% in the three months from January to March from 4.2%. This reading coincided with market expectations.

Other details from the jobs report showed that the claimant count increased by 8,900, while employment fell by 177,000 in April. In addition, average earnings without bonuses rose 6% annually in the three months to March, while average earnings with bonuses rose 5.7% annually in the same period.

Market reaction

These figures caused a subsequent decline in GBP/USD, falling to two-day lows at 1.2509.

Source: Fx Street

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