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- Breaking: UK jobs report shows unemployment rate climbed to 4.2% in June
Breaking: UK jobs report shows unemployment rate climbed to 4.2% in June
The ILO Unemployment Rate in the UK climbed to 4.2% in three months through June, the Office For National Statistics (ONS) reported on Tuesday. This reading followed the 4% reported in May and came in worse than the market expectation of 4%.
Other details of the UK jobs report revealed that Employment Change was -66,000 in the same period, down sharply from +102,000. In the press release, the ONS noted that inactivity due to long-term sickness climbed to a new record high in the survey period.l
Wage inflation in the UK, as measured by the change in the Average Earnings Excluding Bonus, was 7.8% in June, compared to 7.5% in May. Average Earnings Including Bonus rose 8.2%, at a much stronger pace than analysts' estimate of 7.3%.
Market reaction
With the immediate market reaction, Pound Sterling managed to find demand with investors reacting to strong wage inflation readings. As of writing, GBP/USD was up 0.25% on the day at 1.2712.
Pound Sterling price today
The table below shows the percentage change of Pound Sterling (GBP) against listed major currencies today. Pound Sterling was the strongest against the Japanese Yen.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.07% | -0.19% | -0.08% | -0.35% | 0.06% | -0.26% | -0.04% | |
| EUR | 0.08% | -0.12% | -0.01% | -0.25% | 0.14% | -0.19% | 0.03% | |
| GBP | 0.20% | 0.15% | 0.12% | -0.13% | 0.27% | -0.06% | 0.15% | |
| CAD | 0.09% | 0.02% | -0.10% | -0.23% | 0.15% | -0.17% | 0.02% | |
| AUD | 0.33% | 0.25% | 0.14% | 0.24% | 0.38% | 0.07% | 0.28% | |
| JPY | -0.06% | -0.13% | -0.25% | -0.15% | -0.41% | -0.31% | -0.10% | |
| NZD | 0.26% | 0.18% | 0.07% | 0.17% | -0.07% | 0.32% | 0.21% | |
| CHF | 0.04% | -0.03% | -0.15% | -0.04% | -0.31% | 0.10% | -0.22% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
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