|

UK Unemployment Rate rises to 4.7% in the quarter to May vs. 4.6% expected

  • The UK Unemployment Rate rose to 4.7% in three months to May.
  • The Claimant Count Change for Britain stood at 25.9K in June.
  • GBP/USD holds losses below 1.3400 after mixed UK employment data.

The United Kingdom’s (UK) ILO Unemployment rose to 4.7% in the three months to May after reporting 4.6% in the quarter to April, data published by the Office for National Statistics (ONS) showed on Thursday.

The data came in above the market consensus of 4.6%.

Additional details of the report showed that the number of people claiming jobless benefits increased 25.9K in June, compared with a revised increase of 15.3K in May, above the expected 17.9K figure.

The Employment Change data came in at 134K in May versus 89K in April.

Meanwhile, Average Earnings, excluding Bonus, in the UK increased 5.0% three months year-over-year (3M YoY) in May versus a revised 5.3% growth booked previously. The market forecast was for a 4.9% reading.

Another measure of wage inflation, Average Earnings, including Bonus, ticked up by 5.0% in the same period after a revised 5.4% in the quarter through April. The data came in with the estimate of 5.0%.

GBP/USD reaction to the UK employment report

The UK employment report has little to no impact on the Pound Sterling. The pair is trading 0.19% lower on the day at 1.3398, 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 weakest against the US Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD0.23%0.15%0.46%0.27%0.70%0.40%0.27%
EUR-0.23%-0.08%0.22%0.07%0.49%0.19%0.07%
GBP-0.15%0.08%0.32%0.13%0.54%0.25%0.12%
JPY-0.46%-0.22%-0.32%-0.22%0.18%-0.07%-0.21%
CAD-0.27%-0.07%-0.13%0.22%0.51%0.12%-0.00%
AUD-0.70%-0.49%-0.54%-0.18%-0.51%-0.38%-0.42%
NZD-0.40%-0.19%-0.25%0.07%-0.12%0.38%-0.12%
CHF-0.27%-0.07%-0.12%0.21%0.00%0.42%0.12%

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

Lallalit Srijandorn

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

More from Lallalit Srijandorn
Share:

Editor's Picks

AUD/USD pulls back from monthly high but holds above 0.7000

AUD/USD retreats from the monthly high set earlier this Thursday, sliding back to 0.7000 during the Asian session as a further escalation of tensions in the Middle East undermines the risk-sensitive Aussie. However, recent hawkish comments from RBA officials could support the Australian Dollar. Furthermore, the prevailing US Dollar selling bias, despite Fed hike bets and geopolitical uncertainties, could limit losses for the pair.

USD/JPY declines to a one-week low; eyes trading range support near 157.50 on weaker USD

USD/JPY drops to a one-week low during Thursday’s Asian session, with bears now awaiting a break below multi-week range support near mid-157.00s before placing fresh bets amid a broadly weaker US Dollar. Despite bets for a December Fed rate hike and Middle East jitters, the recent decline in US bond yields keeps USD depressed near a three-week low. Moreover, hawkish BoJ expectations and intervention risks underpin the Japanese Yen, further weighing on the currency pair.

Gold remains offered just above $4,000

Gold prices resume their decline on Thursday, easing toward the area of two-month lows around $4,050 per troy ounce. Higher crude oil prices have reignited speculation of further tightening by the Fed, supporting the US Dollar and weighing on the precious metal.

The estimates keep falling: Why Bitcoin's quantum countdown is accelerating

The threat that Artificial Intelligence (AI) and quantum computing pose to Bitcoin (BTC) and cryptocurrencies in general is no longer a matter of if hardware will catch up; it is a matter of when.

The Bank of England just got its clearest reason to hike. Here's what it's really watching

UK inflation as measured by the CPI accelerated to 3.5% YoY in September, up from 3.1% in August, according to the Office for National Statistics. This is the highest level since October 2025, exceeding economists' expectations of 3.4% and pushing inflation further from the BoE's 2% target.

What November 3 means for the Fed's rate path and the US Dollar

The USD faces a decisive period ahead of the November 3 midterm elections. While markets anticipate another interest rate increase from the Fed in December, the battle for control of Congress could reshape fiscal policy expectations and, indirectly, the path of US monetary policy in 2027.