Investing.com – The number of people claiming unemployment benefits in the U.K. rose less-than-expected in August, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said that the claimant count rose by a seasonally adjusted 20,300 in August, below expectations for an increase of 35,000.
The previous month’s figure was revised down to 33,700 from a previously reported 37,100.
The rate of unemployment held steady at 7.9%, broadly in line with expectations.
The report also said that the average earnings index rose more-than-expected, climbing by a seasonally adjusted 2.8%, above expectations for a 2.7% gain.
Following the release of the data, the pound pared losses against the U.S. dollar, with GBP/USD shedding 0.17% to trade at 1.5752.
Meanwhile, European stock markets were higher. The FTSE 100 rose 0.3%, the EURO STOXX 50 climbed 0.25%, France’s CAC 40 rose 0.3%, while Germany's DAX edged 0.15% higher.
In a report, the U.K. Office for National Statistics said that the claimant count rose by a seasonally adjusted 20,300 in August, below expectations for an increase of 35,000.
The previous month’s figure was revised down to 33,700 from a previously reported 37,100.
The rate of unemployment held steady at 7.9%, broadly in line with expectations.
The report also said that the average earnings index rose more-than-expected, climbing by a seasonally adjusted 2.8%, above expectations for a 2.7% gain.
Following the release of the data, the pound pared losses against the U.S. dollar, with GBP/USD shedding 0.17% to trade at 1.5752.
Meanwhile, European stock markets were higher. The FTSE 100 rose 0.3%, the EURO STOXX 50 climbed 0.25%, France’s CAC 40 rose 0.3%, while Germany's DAX edged 0.15% higher.