UK Unemployment Rate steadies at 4.2% in quarter to November, as expected

• The UK Unemployment Rate held steady at 4.2% in the quarter to November.
• The Claimant Count Change for Britain arrived at 11.7K in December.
• GBP/USD remains pressured below 1.2700 after the mixed UK jobs data.

The United Kingdom’s (UK) ILO Unemployment Rate remained intact at 4.2% in three months to November, data published by the Office for National Statistics (ONS) showed Tuesday. The market expected a 4.2% reading in the November quarter.

Additional details of the report showed that the number of people claiming jobless benefits climbed by 11.7K in December, as against an increase of 0.6K in November.

The British Employment Change data for November came in at 73K, compared with a 50K gain seen in October.

Average Earnings excluding Bonus in the UK rose 6.6% 3M YoY in November versus October’s 7.2% increase. Markets had expected a growth of 6.6%.

Another measure of wage inflation, Average Earnings including Bonus grew by 6.5%  in the reported period when compared to a 7.2% increase in October and the expected 6.8% raise.

GBP/USD reaction to the UK employment report

GBP/USD remains under intense selling pressure after the mixed UK employment data. The pair is trading 0.40% lower on the day at 1.2670, as of writing.