Investing.com - The number of people claiming unemployment benefits in the U.K. declined more-than-expected in January, 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 12,500 in January, compared to expectations for a decline of 5,000 people.
The previous month’s figure was revised to a drop of 15,800 people from a previously reported decrease of 12,100.
The rate of unemployment rose unexpectedly to 7.8% last month from 7.7% in December. Analysts had expected the jobless rate to remain unchanged at 7.7% in January.
The report also said that the average earnings index rose by a seasonally adjusted 1.4% in January, in line with expectations, after rising by 1.5% in the previous month.
Following the release of the data, the pound turned lower against the U.S. dollar, with GBP/USD shedding 0.31% to trade at 1.5378.
Meanwhile, European stock markets remained higher. London’s FTSE 100 eased up 0.15%, the EURO STOXX 50 added 0.1%, France’s CAC 40 was flat, while Germany's DAX gained 0.3%.
In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 12,500 in January, compared to expectations for a decline of 5,000 people.
The previous month’s figure was revised to a drop of 15,800 people from a previously reported decrease of 12,100.
The rate of unemployment rose unexpectedly to 7.8% last month from 7.7% in December. Analysts had expected the jobless rate to remain unchanged at 7.7% in January.
The report also said that the average earnings index rose by a seasonally adjusted 1.4% in January, in line with expectations, after rising by 1.5% in the previous month.
Following the release of the data, the pound turned lower against the U.S. dollar, with GBP/USD shedding 0.31% to trade at 1.5378.
Meanwhile, European stock markets remained higher. London’s FTSE 100 eased up 0.15%, the EURO STOXX 50 added 0.1%, France’s CAC 40 was flat, while Germany's DAX gained 0.3%.