UK Unemployment Rate rises to 4.3% in quarter to September vs. 4.1% expected


  • The UK Unemployment Rate rose to 4.3% in three months to September.
  • The Claimant Count Change for Britain arrived at 26.7K in September.
  • GBP/USD remains pressured toward 1.2800 after mixed UK employment data.

The United Kingdom’s (UK) ILO Unemployment Rate ticked up to 4.3% in the three months to September, following 4.0% in August, the data published by the Office for National Statistics (ONS) showed on Tuesday. The market had expected a 4.1% reading in the reported period.

Additional details of the report showed that the number of people claiming jobless benefits climbed by 26.7K in October, compared with a revised gain of 10.1K in September, missing the expected 30.5K print.

The Employment Change data for September came in at 219K versus August’s 373K.

Meanwhile, Average Earnings, excluding Bonus, in the UK increased 4.8% 3M YoY in September versus a 4.9% raise in August. The market forecast was for a 4.7% growth.

Another measure of wage inflation, Average Earnings, including Bonus, rose 4.8% in the same period after accelerating by 3.9%  in the quarter through August. The data beat the estimated 3.9% growth.

Commenting on the UK employment report, Work and Pensions Secretary Liz Kendall MP said, “ 2.8 million people – a near record number are locked out of work due to poor health. This is bad for people, bad for businesses and it’s holding our economy back. That’s why our Get Britain Working plan will bring forward the biggest reforms to employment support in a generation, backed by an additional £240m of investment.”

“And while it’s encouraging to see real pay growth this month, more needs to be done to improve living standards too. So, from April next year over three million of the lowest paid workers will benefit from our increase to the National Living Wage, delivering a £1,400 a year pay rise for a full-time worker,” Kendall added.

GBP/USD reaction to the UK employment report

GBP/USD inches further south in reaction to the mixed UK employment data. The pair is trading 0.42% lower on the day at 1.2814, as of writing.

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the US Dollar.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   0.21% 0.40% 0.09% 0.18% 0.28% 0.09% 0.17%
EUR -0.21%   0.20% -0.11% -0.03% 0.07% -0.12% -0.07%
GBP -0.40% -0.20%   -0.30% -0.22% -0.12% -0.33% -0.27%
JPY -0.09% 0.11% 0.30%   0.10% 0.20% 0.00% 0.05%
CAD -0.18% 0.03% 0.22% -0.10%   0.10% -0.09% -0.04%
AUD -0.28% -0.07% 0.12% -0.20% -0.10%   -0.18% -0.15%
NZD -0.09% 0.12% 0.33% -0.01% 0.09% 0.18%   0.04%
CHF -0.17% 0.07% 0.27% -0.05% 0.04% 0.15% -0.04%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD: Next on the downside comes 0.6500

AUD/USD: Next on the downside comes 0.6500

Further gains in the US Dollar kept the price action in commodities and the risk complex depressed on Tuesday, motivating AUD/USD to come close to the rea of the November low near 0.6500.

AUD/USD News
EUR/USD pierces 1.06, finds lowest bids in a year

EUR/USD pierces 1.06, finds lowest bids in a year

EUR/USD trimmed further into low the side on Tuesday, shedding another third of a percent. Fiber briefly tested below 1.0600 during the day’s market session, and the pair is poised for further losses after a rapid seven-week decline from multi-month highs set just above 1.1200 in September.

EUR/USD News
Gold struggles to retain the $2,600 mark

Gold struggles to retain the $2,600 mark

Following the early breakdown of the key $2,600 mark, prices of Gold now manages to regain some composure and reclaim the $2,600 level and beyond amidst the persistent move higher in the US Dollar and the rebound in US yields.

Gold News
Ripple could rally 50% following renewed investor interest

Ripple could rally 50% following renewed investor interest

Ripple's XRP rallied nearly 20% on Tuesday, defying the correction seen in Bitcoin and Ethereum as investors seem to be flocking toward the remittance-based token. XRP could rally nearly 50% if it sustains a firm close above the neckline resistance of an inverted head and shoulders pattern.

Read more
Five fundamentals: Fallout from the US election, inflation, and a timely speech from Powell stand out

Five fundamentals: Fallout from the US election, inflation, and a timely speech from Powell stand out Premium

What a week – the US election lived up to their hype, at least when it comes to market volatility. There is no time to rest, with politics, geopolitics, and economic data promising more volatility ahead.

Read more
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures