UK wages rose by 3.5% 3m y/y in February, meet estimates

The UK wages excluding bonuses rose by 3.4% y/y compared to 3.4% y/y expected.
The UK wages including bonuses rose by 3.5% y/y compared to 3.5% y/y expected.
The UK unemployment rate steadied at 3.9% in February.

Dhwani Mehta FXStreet

The Office for National Statistics (ONS) showed on Tuesday, the UK’s average weekly earnings, excluding bonuses met expectations, arriving at 3.4% 3m y/y in February versus 3.5% last and 3.4% expected while the gauge including bonuses came in 3.5% 3m y/y in February versus 3.5% previous and 3.5% expected.

The Kingdom’s official jobless rate held steady at 3.9% in February, while the claimant count change showed a bigger-than-expected increase.

The number of people claiming jobless benefits rose by 28.3k in March, against expectations of a 20k increase and +26.7k seen previously. The claimant count rate rose to 3.0%.

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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