- Analytics
- News and Tools
- Market News
- UK ILO Unemployment Rate unexpectedly drops to 3.6% in July
UK ILO Unemployment Rate unexpectedly drops to 3.6% in July
- The Unemployment Rate in the UK arrived at 3.6% in July.
- UK Claimant Count Change arrived at 6.3K in August.
- The UK wages excluding bonuses rose by 5.2% YoY in July vs. 5.0% expected.
The Office for National Statistics (ONS) showed on Tuesday, the UK’s official jobless rate dropped to 3.6% in July vs. 3.8% expected while the claimant count change showed an unexpected increase in August.
The number of people claiming jobless benefits rose by 6.3K in August when compared to -10.5K booked previously and -9.2K expectations.
The UK’s average weekly earnings, excluding bonuses, arrived at +5.2% 3Mo/YoY in July versus +4.7% last and +5.0% expected while the gauge including bonuses came in at +5.5% 3Mo/YoY in July versus +5.1% previous and +5.2% expected.
Key points (via ONS)
UK vacancies 1.266 million in three months to August.
Largest quarterly decrease in vacancies since 2020.
UK August payrolls rose 71,000 to 29.7 million.
UK real total pay, using CPIH measure of inflation, fell by 2.6% YoY in three months to July.
GBP/USD reaction
GBP/USD finds a fresh boost on the mixed UK employment data, as it adds 0.20% to test 1.1700, as of writing.
About UK jobs
The UK Average Earnings released by the Office for National Statistics (ONS) is a key short-term indicator of how levels of pay are changing within the UK economy. Generally speaking, the positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
