Investing.com – The number of people claiming unemployment benefits in the U.K. fell less-than-expected in November, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 1,200 in November, after falling by 5,200 in October, whose figure was revised from a decline of 3,700.
Analysts had expected the claimant count to fall by 3,000 in November.
Meanwhile, the rate of unemployment rose unexpectedly in October, increasing to a seasonally adjusted 7.9%, after holding steady at 7.7% in September.
Analysts had expected the unemployment rate to remain unchanged at 7.7% in October.
The report also said that the average earnings index rose in line with expectations in October, rising by a seasonally adjusted 2.2%, after rising by 2.0% in September.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.27% to hit 1.5730.
Meanwhile, European stock markets were broadly lower. The FTSE 100 fell 0.29%, the EURO STOXX 50 tumbled 0.84%, France’s CAC 40 slumped 0.58%, while Germany's DAX was down 0.59%.
In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 1,200 in November, after falling by 5,200 in October, whose figure was revised from a decline of 3,700.
Analysts had expected the claimant count to fall by 3,000 in November.
Meanwhile, the rate of unemployment rose unexpectedly in October, increasing to a seasonally adjusted 7.9%, after holding steady at 7.7% in September.
Analysts had expected the unemployment rate to remain unchanged at 7.7% in October.
The report also said that the average earnings index rose in line with expectations in October, rising by a seasonally adjusted 2.2%, after rising by 2.0% in September.
Following the release of the data, the pound was down against the U.S. dollar, with GBP/USD shedding 0.27% to hit 1.5730.
Meanwhile, European stock markets were broadly lower. The FTSE 100 fell 0.29%, the EURO STOXX 50 tumbled 0.84%, France’s CAC 40 slumped 0.58%, while Germany's DAX was down 0.59%.