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- UK ILO Unemployment Rate steadies at 3.7% in November vs. 3.7% expected
UK ILO Unemployment Rate steadies at 3.7% in November vs. 3.7% expected
- The Unemployment Rate in the UK arrived at 3.7% in November.
- UK Claimant Count Change came in at 19.7K in December.
- The UK wages excluding bonuses rose by 6.4% YoY in November vs. 6.3% expected.
According to the latest data released by the Office for National Statistics (ONS) on Tuesday, the UK’s ILO Unemployment Rate remained unchanged at 3.7% in November vs. the 3.7% expected while the claimant count change showed a mild decrease in the reported month.
The number of people claiming jobless benefits rose by 19.7K in December when compared to 30.5K booked previously.
The UK’s average weekly earnings, excluding bonuses, arrived at 6.4% 3Mo/YoY in November versus 6.1% last and 6.3% expected while the gauge including bonuses came in at 6.4% 3Mo/YoY in November versus 6.1% previous and 6.1% expected.
Key points (via ONS)
The number of vacancies in October to December 2022 was 1,161,000, a decrease of 75,000 from July to September 2022. Despite six consecutive quarterly falls, the number of vacancies remains at historically high levels.
UK Payrolls change 28k in December vs. 107k prior
GBP/USD reaction
GBP/USD picked up bids on mixed UK employment data, rising back to 1.2200, 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, positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).
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