- The UK Unemployment Rate rose to 4.2% in three months to February.
- The Claimant Count Change for Britain stood at 10.9K in March.
- GBP/USD holds the bounce toward 1.2450 after mixed UK jobs data.
The United Kingdom’s (UK) ILO Unemployment Rate came in at 4.2% in the three months to February, rising from 3.9% in the previous period, data published by the Office for National Statistics (ONS) showed Tuesday. The reading missed the market expectations of a 4.0% print.
Additional details of the report showed that the number of people claiming jobless benefits rose by 10.9K in March, as against a revised increase of 4.1K reported in February. The market forecast was for a 17.2K increment in the reported period.
The Employment Change data for February arrived at -156K, compared with January’s -21K.
Average Earnings excluding Bonus in the UK rose 6.0% 3M YoY in February versus January’s 6.1% growth.
Another measure of wage inflation, Average Earnings including Bonus grew 5.6% in the same period, at the same pace seen in the quarter through January and against the expected increase of 5.5%.
The UK Secretary of State for Work and Pensions, Mel Stride MP, told FXStreet: “Our welfare reforms will cut the number of people due to be placed in the highest tier of incapacity benefits by over 370,000 - people we will now be helping back to work.”
“With real wages up again and millions benefiting from this month’s huge boost to the National Minimum Wage, it is work, not welfare, that delivers the best financial security for British households,” Stride added.
GBP/USD reaction to the UK employment report
GBP/USD held on to its modest rebound above 1.2400 after the mixed UK employment data. The pair is trading 0.10% lower on the day at 1.2430, as of writing.
Pound Sterling price today
The table below shows the percentage change of Pound Sterling (GBP) against listed major currencies today. Pound Sterling was the weakest against the US Dollar.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.06% | 0.08% | 0.05% | 0.26% | 0.07% | 0.19% | 0.05% | |
| EUR | -0.06% | 0.06% | -0.02% | 0.22% | 0.02% | 0.13% | -0.01% | |
| GBP | -0.14% | -0.07% | -0.09% | 0.14% | -0.04% | 0.07% | -0.09% | |
| CAD | -0.06% | 0.00% | 0.07% | 0.19% | 0.01% | 0.13% | -0.02% | |
| AUD | -0.26% | -0.21% | -0.16% | -0.23% | -0.20% | -0.08% | -0.23% | |
| JPY | -0.09% | -0.06% | -0.05% | -0.06% | 0.16% | 0.09% | -0.07% | |
| NZD | -0.20% | -0.14% | -0.07% | -0.14% | 0.08% | -0.11% | -0.14% | |
| CHF | -0.05% | 0.01% | 0.07% | 0.00% | 0.24% | 0.04% | 0.14% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD flirts with daily tops near 1.0730
The continuation of the selling pressure in the Greenback now lends further oxygen to the risk complex, encouraging EUR/USD to revisit the area of daily highs near 1.0730.
USD/JPY looks stable around 156.50 as suspicious intervention lingers
USD/JPY remains well on the defensive in the mid-156.00s albeit off daily lows, as market participants continue to digest the still-unconfirmed FX intervention by the Japanese MoF earlier in the Asian session.
Gold advances for a third consecutive day
Gold fluctuates in a relatively tight channel above $2,330 on Monday. The benchmark 10-year US Treasury bond yield corrects lower and helps XAU/USD limit its losses ahead of this week's key Fed policy meeting.
Week Ahead: Bitcoin could surprise investors this week Premium
Two main macroeconomic events this week could attempt to sway the crypto markets. Bitcoin (BTC), which showed strength last week, has slipped into a short-term consolidation.
Five Fundamentals for the week: Fed fears, Nonfarm Payrolls, Middle East promise an explosive week Premium
Higher inflation is set to push Fed Chair Powell and his colleagues to a hawkish decision. Nonfarm Payrolls are set to rock markets, but the ISM Services PMI released immediately afterward could steal the show.