Investing.com - The number of people claiming unemployment benefits in the U.K. fell unexpectedly in August, while the nation’s unemployment rate ticked up, 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 15,000 in August, defying expectations for an increase of 500 people.
The previous month’s figure was revised a decline of 13,600 from a previously reported drop of 5,900.
The rate of unemployment rose unexpectedly to 8.1% from 8.0%. Analysts’ had expected the jobless rate to hold steady at 8.0%.
The report also said that the average earnings index rose by a seasonally adjusted 1.5% in August, below expectations for a 1.6% gain, after rising by 1.8% in the previous month.
Following the release of the data, the pound remained higher against the U.S. dollar, with GBP/USD adding 0.23% to trade at 1.6108.
Meanwhile, European stock markets held on to gains. London’s FTSE 100 rose 0.2%, the EURO STOXX 50 added 0.85%, France’s CAC 40 climbed 0.55%, while Germany's DAX advanced 0.8%.
In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 15,000 in August, defying expectations for an increase of 500 people.
The previous month’s figure was revised a decline of 13,600 from a previously reported drop of 5,900.
The rate of unemployment rose unexpectedly to 8.1% from 8.0%. Analysts’ had expected the jobless rate to hold steady at 8.0%.
The report also said that the average earnings index rose by a seasonally adjusted 1.5% in August, below expectations for a 1.6% gain, after rising by 1.8% in the previous month.
Following the release of the data, the pound remained higher against the U.S. dollar, with GBP/USD adding 0.23% to trade at 1.6108.
Meanwhile, European stock markets held on to gains. London’s FTSE 100 rose 0.2%, the EURO STOXX 50 added 0.85%, France’s CAC 40 climbed 0.55%, while Germany's DAX advanced 0.8%.