Investing.com - The number of people claiming unemployment benefits in the U.K. declined less-than-expected in February, 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 1,500 in February, compared to expectations for a decline of 5,000 people.
The previous month’s figure was revised to a drop of 10,000 people from a previously reported decrease of 12,500.
The rate of unemployment held steady at 7.8% last month, in line with expectations and unchanged from January.
The report also said that the average earnings index rose by a seasonally adjusted 1.2% in February, below expectations for a 1.5% increase, after rising by 1.3% in the previous month.
Following the release of the data, the pound trimmed losses against the U.S. dollar, with GBP/USD shedding 0.15% to trade at 1.5075.
Meanwhile, European stock markets remained higher. London’s FTSE 100 eased up 0.35%, the EURO STOXX 50 added 0.6%, France’s CAC 40 rose 0.6%, while Germany's DAX gained 0.5%.
In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 1,500 in February, compared to expectations for a decline of 5,000 people.
The previous month’s figure was revised to a drop of 10,000 people from a previously reported decrease of 12,500.
The rate of unemployment held steady at 7.8% last month, in line with expectations and unchanged from January.
The report also said that the average earnings index rose by a seasonally adjusted 1.2% in February, below expectations for a 1.5% increase, after rising by 1.3% in the previous month.
Following the release of the data, the pound trimmed losses against the U.S. dollar, with GBP/USD shedding 0.15% to trade at 1.5075.
Meanwhile, European stock markets remained higher. London’s FTSE 100 eased up 0.35%, the EURO STOXX 50 added 0.6%, France’s CAC 40 rose 0.6%, while Germany's DAX gained 0.5%.