UK ILO Unemployment Rate holds steady at 3.7% in December vs. 3.7% expected

• The Unemployment Rate in the UK stood unchanged at 3.7% in December.
• UK Claimant Count Change came in at -12.9K in January.
• The UK wages excluding bonuses jumped by 6.7% YoY in December vs. 6.5% 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 December vs. the 3.7% expected while the claimant count change showed a decline in the reported month.

The number of people claiming jobless benefits fell by 12.9K in January when compared to -3.2K booked previously.

The UK’s average weekly earnings, excluding bonuses, arrived at 6.7% 3Mo/YoY in December versus 6.5% last and 6.5% expected while the gauge including bonuses came in at 5.9% 3Mo/YoY in December versus 6.5% previous and 6.2% expected.

Key points (via ONS)

GBP/USD reaction

GBP/USD catches a fresh bid on the mixed UK employment data, rising back above 1.2150, 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).