UK Jan jobs mixed - Claimant count upbeat, wages disappoint

Dhwani Mehta FXStreet

The Office for National Statistics noted on Wednesday, the UK’s official jobless rate stayed unchanged at 4.8% in December, while the claimant count showed a much bigger-than expected drop last month.

The number of people claiming jobless benefits dropped sharply by 42.4k in January from reduced 20.5k claim seekers seen previously. The claimant count rate decreased to 2.1% in the last month, when compared to 2.3% previous.

Wage growth, excluding bonuses dropped in the reported period, coming in at 2.6% versus 2.7% booked previously, while the gauge including bonuses also missed expectations, arriving at 2.6% 3m y/y versus 2.8% last. Employment change for December stood at 37k versus 22k expected and -9k previous.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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