- The UK Unemployment Rate stayed unchanged at 4.3% in three months to October.
- The Claimant Count Change for Britain arrived at 0.3K in November.
- GBP/USD remains pressured toward 1.2650 after mixed UK employment data.
The United Kingdom’s (UK) ILO Unemployment Rate stayed unchanged at 4.3% in the three months to October, the data published by the Office for National Statistics (ONS) showed on Tuesday. The reading matched the market estimate of 4.3% in the reported period.
Additional details of the report showed that the number of people claiming jobless benefits climbed by only 0.3K in November, compared with a decrease of 10.9K in October, beating the expected 28.2K figure.
The Employment Change data for October came in at 173K versus September’s 253K.
Meanwhile, Average Earnings, excluding Bonus, in the UK grew by 5.2% 3M YoY in October versus a 4.9% raise in September. The market forecast was for a 5.0% increase.
Another measure of wage inflation, Average Earnings, including Bonus, advanced 5.2% in the same period after rising by 4.4% in the quarter through September. The data beat the estimated 4.6% growth.
GBP/USD reaction to the UK employment report
GBP/USD picks up fresh bids on the release of the UK employment data. The pair is trading 0.09% higher on the day at 1.2690, 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 strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.06% | -0.07% | -0.03% | 0.08% | 0.28% | 0.23% | 0.16% | |
| EUR | -0.06% | -0.13% | -0.10% | 0.02% | 0.22% | 0.17% | 0.09% | |
| GBP | 0.07% | 0.13% | 0.06% | 0.15% | 0.34% | 0.30% | 0.23% | |
| JPY | 0.03% | 0.10% | -0.06% | 0.10% | 0.30% | 0.24% | 0.19% | |
| CAD | -0.08% | -0.02% | -0.15% | -0.10% | 0.20% | 0.16% | 0.09% | |
| AUD | -0.28% | -0.22% | -0.34% | -0.30% | -0.20% | -0.05% | -0.13% | |
| NZD | -0.23% | -0.17% | -0.30% | -0.24% | -0.16% | 0.05% | -0.07% | |
| CHF | -0.16% | -0.09% | -0.23% | -0.19% | -0.09% | 0.13% | 0.07% |
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).
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
Editors’ Picks
EUR/USD holds losses below 1.0500 ahead of US data
EUR/USD remains on the back foot below 1.0500 in the European session on Tuesday. A negative shift in risk sentiment revives the haven demand for the US Dollar, while the mixed sentiment data from Germany hurts the Euro, weighing down on the pair ahead of US data.
GBP/USD recovers toward 1.2700 after UK jobs data
GBP/USD clings to small daily gains near 1.2700 on Tuesday. The data from the UK showed that the ILO Unemployment Rate held steady at 4.3% in the three months to October, while the annual wage inflation climbed to 5.2%, helping Pound Sterling hold its ground.
Gold drops below $2,650 ahead of crucial Fed decision on Wednesday
Following Monday's shallow recovery attempt, Gold remains under modest bearish pressure and trades below $2,650 on Tuesday. Growing expectations for a less dovish Fed outlook and elevated US bond yields weigh on XAU/USD ahead of the last FOMC meeting of the year.
Ripple reveals official launch for RLUSD, XRP eyes new all-time high at $4.75
Ripple confirmed in a press release on Monday that its RLUSD stablecoin will officially launch on Tuesday across exchanges, including MoonPay, Uphold, CoinMENA, Bitso and ArchaxEx. Bullish sentiments surrounding the launch could help XRP overcome the $2.58 and $2.92 resistance levels.
Will the Fed cut interest rates again and why is the dot plot important Premium
The Fed is expected to cut interest rates on Wednesday for the third consecutive meeting. Every time the Fed decides on rates, it is a crucial event as it directly affects families and businesses in the United States. Moreover, the Fed’s last meeting of the year will also be important because it will provide the outlook for what it expects to do in 2025.
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.