|

UK Unemployment Rate eases to 4.1% in quarter to July, as expected

  • The UK Unemployment Rate edged lower to 4.1% in three months to July.
  • The Claimant Count Change for Britain came in at 23.7K in August.
  • GBP/USD picks up fresh bids toward 1.3100 after mixed UK employment data.

The United Kingdom’s (UK) ILO Unemployment Rate eased to 4.1% in the three months to July, following June’s 4.2% print, the data published by the Office for National Statistics (ONS) showed on Tuesday. Markets expected a reading of 4.1% in the reported period.

Additional details of the report showed that the number of people claiming jobless benefits increased by 23.7K in August, compared with a revised gain of 102.3K in July, coming in below the expected 95.5K figure by a wide margin.

The Employment Change data for July arrived at 265K, as against June’s 24K.

Meanwhile, Average Earnings excluding Bonus in the UK climbed 5.1% 3M YoY in July versus a 5.4% growth seen in June. The reading aligned with the expectations of a 5.1% increase.

Another measure of wage inflation, Average Earnings including Bonus also increased by 4.0% in the same period after reporting a 4.6% growth in the quarter through June. The market forecast was for +4.1%.

GBP/USD reaction to the UK employment report

GBP/USD picks up fresh bids in a knee-jerk reaction to the mixed UK employment data. The pair is trading 0.07% higher on the day at 1.3080, as of writing.

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Canadian Dollar.

 USDEURGBPJPYCADAUDNZDCHF
USD -0.03%-0.04%-0.10%0.05%-0.09%-0.10%-0.12%
EUR0.03% -0.00%0.02%0.08%-0.06%-0.12%-0.09%
GBP0.04%0.00% 0.02%0.05%-0.05%-0.10%-0.07%
JPY0.10%-0.02%-0.02% 0.05%-0.08%-0.12%-0.11%
CAD-0.05%-0.08%-0.05%-0.05% -0.15%-0.16%-0.17%
AUD0.09%0.06%0.05%0.08%0.15% -0.03%-0.02%
NZD0.10%0.12%0.10%0.12%0.16%0.03% 0.00%
CHF0.12%0.09%0.07%0.11%0.17%0.02%-0.01% 

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 British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

Author

Dhwani Mehta

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.

More from Dhwani Mehta
Share:

Editor's Picks

AUD/USD seems vulnerable near 0.6800, 10-month low amid bullish USD

AUD/USD languishes near a 10-month low during the Asian session on Friday, awaiting a break below 0.6800 before the next leg up amid a bullish US Dollar. Firming Fed rate-hike expectations, along with fading hopes for US-Iran diplomacy, help the USD hold gains at its highest level since April 2025. Moreover, the RBA’s dovish tilt undermines the Aussie and backs the case for further losses.

USD/JPY bulls turn cautious near 160.00 amid intervention risks

USD/JPY enters a bullish consolidation phase around its highest level since early September as bulls turn cautious amid intervention risk near 160.00. Meanwhile, the downside seems cushioned as the wide US-Japan interest rate gap keeps the Yen carry trade active. Furthermore, the possibility of a jumbo Fed rate hike and Middle East uncertainties hold the US Dollar near a 19-month top, supporting the currency pair.



Gold remains on the back foot below $3,900

Gold now alternates gains with losses below the $3,900 mark per troy ounce on Friday. The precious metal struggles to regain traction amid the firmer US Dollar, mixed US Treasury yields and expectations of further tightening by the Fed at its December meeting.

Bitcoin just posted five straight losing weeks, and the storm may not be over yet

Bitcoin is struggling to find support, slipping below $70,000 as multiple headwinds threaten to push the Crypto King lower. The much-anticipated “Uptober” rally failed to materialize, with persistent selling pressure and widespread liquidations instead reinforcing the “Rektober” narrative.

Week ahead – Fed Minutes, inflation data and Nvidia earnings to guide investors

Fed minutes may add to hawkish tone as bets of 50-bps hike grow. Nvidia to report earnings as bar to impress high after spy scandal. Trade and geopolitics to be focal point of Trump-Xi summit.

Gold hit its lowest level of 2026 near $3,850
Gold (XAU/USD) attempts to stabilize around $3,890 on Friday after falling to $3,852 on Thursday, its lowest level since October 2025. The precious metal has lost more than 4% this week, as investors increasingly anticipate further monetary tightening from the Federal Reserve (Fed). The latest decline reflects a sharp change in market expectations.