UK Unemployment Rate steadies at 4.4% in quarter to May, as expected

• The UK Unemployment Rate held steady at 4.4% in three months to May.
• The Claimant Count Change for Britain arrived at 32.3K in June.
• GBP/USD trades near 1.3000 after mixed UK employment data.

The United Kingdom’s (UK) ILO Unemployment Rate held steady at 4.4% in the three months to May after reporting 4.4% in the previous period, according to data published by the Office for National Statistics (ONS) on Thursday. The market consensus was for a 4.4% reading.

Additional details of the report showed that the number of people claiming jobless benefits increased by 32.3K in June, compared with a revised gain of 51.9K in May, missing the expected 23.4K print.

The Employment Change data for May came in at 19K, compared to April’s -140K.

Meanwhile, Average Earnings excluding Bonus in the UK rose 5.7% 3M YoY in May versus a 6.0 % growth registered in April. The reading matched the expectations of a 5.7% increment.

Another measure of wage inflation, Average Earnings including Bonus also increased by 5.7%  in the same period, having accelerated 5.9% quarter through April and aligned with the expected raise of 5.7%.

GBP/USD reaction to the UK employment report

GBP/USD sees a little reaction to the mixed UK employment data. The pair is trading flat on the day at 1.3000, as of writing.