United Kingdom Unemployment Rate stays at 4.9% in June vs. 4.8% expected
The United Kingdom’s (UK) ILO Unemployment Rate stayed at 4.9% in the three months to June after reporting 4.9% in the previous reading, data published by the Office for National Statistics (ONS) showed on Tuesday. The data came in above the market consensus of 4.8%.
The UK's unemployment rate remained unchanged at 4.9% in the three months leading up to June, according to data released by the Office for National Statistics (ONS) on Tuesday. This figure exceeded the market expectation of 4.8%. In July, the number of people claiming jobless benefits declined by 11,000, down from a revised decrease of 6,400 in June and the previously expected 11,200 increase.
The employment change reported for June stood at 83,000, compared to 147,000 in the previous month of May. Meanwhile, average earnings, excluding bonuses, increased by 3.5% year-over-year in June, up from the previous 3.4% growth. The market anticipated a 3.4% increase. Average earnings, including bonuses, rose by 4.1% in the same period, matching the estimate of 4.1%.
The British Pound (GBP) experienced a slight dip following the release of the UK employment report, trading at 1.3524 against the US Dollar.
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