UK Unemployment Rate steadies at 4.4% in the quarter to January as expected
- The UK Unemployment Rate stays at 4.4% in three months to January.
- The Claimant Count Change for Britain came in at 44.2K in January.
- GBP/USD remains below 1.3000 after mixed UK employment data.
The United Kingdom’s (UK) ILO Unemployment Rate stayed unchanged at 4.4% in the three months to January, data published by the Office for National Statistics (ONS) showed on Thursday. The market consensus was for a 4.4% reading in the reported period.
Additional details of the report showed that the number of people claiming jobless benefits increased by 44.2K in February, compared with a gain of 2.8K in January, missing the expected 7.9K figure.
The Employment Change data for January came in at 144K versus December’s 107K.
Meanwhile, Average Earnings, excluding Bonus, in the UK rose 5.9% three months year-over-year (3M YoY) in January versus a 5.9% growth booked previously. Markets expected a 5.9% print.
Another measure of wage inflation, Average Earnings, including Bonus, advanced 5.8% in the same period after accelerating by a revised 6.1% in the quarter through December. The data surpassed the market forecast of 5.9%.
GBP/USD reaction to the UK employment report
GBP/USD holds lower ground on the release of the UK employment data. The pair is trading 0.02% lower on the day at 1.2985, as of writing.
(This story was corrected on March 20 at 07:09 GMT to say that "Additional details of the report showed that the number of people claiming jobless benefits increased by 44.2K in February, compared with a gain of 2.8K in January," not 22K)
British Pound PRICE Last 7 days
The table below shows the percentage change of British Pound (GBP) against listed major currencies last 7 days. British Pound was the strongest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.02% | -0.16% | 0.04% | -0.18% | -0.06% | -0.81% | -0.62% | |
| EUR | 0.02% | -0.14% | 0.06% | -0.17% | -0.04% | -0.77% | -0.60% | |
| GBP | 0.16% | 0.14% | 0.19% | -0.03% | 0.11% | -0.63% | -0.45% | |
| JPY | -0.04% | -0.06% | -0.19% | -0.26% | -0.11% | -0.86% | -0.65% | |
| CAD | 0.18% | 0.17% | 0.03% | 0.26% | 0.14% | -0.61% | -0.43% | |
| AUD | 0.06% | 0.04% | -0.11% | 0.11% | -0.14% | -0.73% | -0.50% | |
| NZD | 0.81% | 0.77% | 0.63% | 0.86% | 0.61% | 0.73% | 0.22% | |
| CHF | 0.62% | 0.60% | 0.45% | 0.65% | 0.43% | 0.50% | -0.22% |
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).
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.
