According to figures released by the Office for National Statistics (ONS) on Tuesday, the UK's ILO Unemployment Rate remained at 4.9% in the three months leading up to July after reporting 4.9% in the prior reading. The data fell short of the 5.0% market consensus.
According to the report's further information, the number of people seeking unemployment benefits increased by 27.8K in August as opposed to the anticipated 8.3K gain and a corrected reduction of 11.8K in July.
In July, the Employment Change figure was 67K, compared to 83K in June.
In contrast to the 3.5% gain reported earlier, Average Earnings, excluding Bonus, in the UK increased by 3.5% three months year over year (3M YoY) in July. A 3.5% print was anticipated by the market.
Reaction of GBP/USD to the UK employment report
Average Earnings, including Bonus, another indicator of pay inflation, increased by 3.9% during that time after rising by 4.2% (revised from 4.1%) during the quarter ending in June. The data agreed with the 3.9% projection.
In response to the UK employment statistics, some sellers are drawn to the British Pound (GBP). The GBP/USD pair is currently trading at 1.3477, down 0.16% on the day.
According to the report's further information, the number of people seeking unemployment benefits increased by 27.8K in August as opposed to the anticipated 8.3K gain and a corrected reduction of 11.8K in July.
In July, the Employment Change figure was 67K, compared to 83K in June.
In contrast to the 3.5% gain reported earlier, Average Earnings, excluding Bonus, in the UK increased by 3.5% three months year over year (3M YoY) in July. A 3.5% print was anticipated by the market.
Reaction of GBP/USD to the UK employment report
Average Earnings, including Bonus, another indicator of pay inflation, increased by 3.9% during that time after rising by 4.2% (revised from 4.1%) during the quarter ending in June. The data agreed with the 3.9% projection.
In response to the UK employment statistics, some sellers are drawn to the British Pound (GBP). The GBP/USD pair is currently trading at 1.3477, down 0.16% on the day.
