Investing.com – The number of people claiming unemployment benefits in the U.K. rose more-than-expected in January, while the unemployment rate held steady at the highest level since 1996, 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 6,900 in January, above expectations for an increase of 3,200.
The previous month’s figure was revised up to an increase of 1,900 from a previously reported 1,200 gain.
The rate of unemployment held steady at 8.4%, broadly in line with expectations.
According to the data, the total number of unemployed people stood at 2.67 million last month.
The report also said that the average earnings index rose by a seasonally adjusted 2.0% in January, above expectations for a 1.8% gain, after rising by a revised 2.0% in the previous month.
Following the release of the data, the pound trimmed gains against the U.S. dollar, with GBP/USD easing up 0.03% to trade at 1.5698.
Meanwhile, European stock markets held on to gains. London’s FTSE 100 added 0.25%, the EURO STOXX 50 rose 0.75%, France’s CAC 40 climbed 0.8%, while Germany's DAX rallied 1.05%.
In a report, the U.K. Office for National Statistics said that the claimant count rose by a seasonally adjusted 6,900 in January, above expectations for an increase of 3,200.
The previous month’s figure was revised up to an increase of 1,900 from a previously reported 1,200 gain.
The rate of unemployment held steady at 8.4%, broadly in line with expectations.
According to the data, the total number of unemployed people stood at 2.67 million last month.
The report also said that the average earnings index rose by a seasonally adjusted 2.0% in January, above expectations for a 1.8% gain, after rising by a revised 2.0% in the previous month.
Following the release of the data, the pound trimmed gains against the U.S. dollar, with GBP/USD easing up 0.03% to trade at 1.5698.
Meanwhile, European stock markets held on to gains. London’s FTSE 100 added 0.25%, the EURO STOXX 50 rose 0.75%, France’s CAC 40 climbed 0.8%, while Germany's DAX rallied 1.05%.