UK jobs solid: A positive surprise across all indicators

Dhwani Mehta FXStreet

The Office for National Statistics noted on Wednesday, the UK’s official jobless rate ticked lower to 4.4% in June, while the claimant count unexpectedly dropped last month.

The number of people claiming jobless benefits dropped by -4.2k in July, against expectations of a 3.7k increase and 6.0k seen previously. The claimant count rate held steady at 2.3%.

Wage growth, excluding bonuses bettered expectations, arriving at 2.1% versus 2.0% last, while the gauge including bonuses also surprised positively, coming in at 2.1% 3m y/y versus 1.9% (revised higher) last.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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