Investing.com – The number of people claiming unemployment benefits in the U.K. rose unexpectedly in March, 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 700 in March, after declining by 8,500 in February, whose figure was revised from a decline of 10,200.
Analysts had expected the claimant count to rise fall by 3,000 in March.
Meanwhile, the rate of unemployment fell unexpectedly in February, dropping to 7.8%, after holding steady after climbing to 8.0% in January. Analysts had expected the unemployment rate to remain unchanged at 8.0%.
The report also said that the average earnings index rose less-than-expected in February, rising by a seasonally adjusted 2.0%, short of expectations for a 2.6% increase.
Following the release of the data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.13% to hit 1.6279.
Meanwhile, European stock markets were higher. The FTSE 100 was up 0.63%, the EURO STOXX 50 climbed 0.43%, France’s CAC 40 rose 0.45%, while Germany's DAX advanced 0.57%.
In a report, the U.K. Office for National Statistics said that the claimant count rose by a seasonally adjusted 700 in March, after declining by 8,500 in February, whose figure was revised from a decline of 10,200.
Analysts had expected the claimant count to rise fall by 3,000 in March.
Meanwhile, the rate of unemployment fell unexpectedly in February, dropping to 7.8%, after holding steady after climbing to 8.0% in January. Analysts had expected the unemployment rate to remain unchanged at 8.0%.
The report also said that the average earnings index rose less-than-expected in February, rising by a seasonally adjusted 2.0%, short of expectations for a 2.6% increase.
Following the release of the data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.13% to hit 1.6279.
Meanwhile, European stock markets were higher. The FTSE 100 was up 0.63%, the EURO STOXX 50 climbed 0.43%, France’s CAC 40 rose 0.45%, while Germany's DAX advanced 0.57%.