UK wages rise by 2.5% y/y, in line with expectations
| • The UK average earnings excluding bonuses rose by 2.7% y/y compared to 2.7% expected.
• The UK wages including bonuses rose by 2.5% y/y compared to 2.5% y/y expected.
• The UK unemployment rate remained unchanged at the four-decade low of 4.2%.
The Office for National Statistics (ONS) released the latest UK monthly employment details this Tuesday and the report showed that claimant count rose by 7.8K in June, falling short of market expectations anticipating a drop of 2.1K. Conversely, the unemployment rate remained unchanged at 4.2% over the three months to May.
The average weekly earnings, excluding bonuses, rose 2.7% over the three months ending in May and climbed 2.5% over the year including bonuses. The wages were pretty much in line with market expectations, albeit did little to provide any meaningful boost to the British Pound.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.