4.9%: United Kingdom Unemployment Rate stays unchanged in its three months to July
The United Kingdom’s (UK) ILO Unemployment Rate stayed at 4.9% in the three months to July after reporting 4.9% in the previous reading, data published by the Office for National Statistics (ONS) showed on Tuesday. The data came in below the market consensus of 5.0%.
The United Kingdom's unemployment rate remained steady at 4.9% for the three months ending July, according to data released by the Office for National Statistics (ONS). This figure was consistent with the previous reading and below the market consensus of 5.0%. August saw an increase of 27.8K people claiming jobless benefits, up from a revised decrease of 11.8K in July and the anticipated 8.3K gain.
Employment Change data recorded a July figure of 67K, down from 83K in June. Average Earnings, excluding Bonus, in the UK experienced a 3.5% increase year-over-year in July, matching the market expectation. Average Earnings, including Bonus, rose by 3.9% in the same period, aligning with the estimate of 3.9%. The British Pound (GBP) experienced some selling pressure following the employment report, currently trading at 1.3477 against the US Dollar.
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