Investing.com - The number of people claiming unemployment benefits in the U.K. declined significantly more-than-expected in June, while the country’s jobless rate held steady, 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 21,200 in June, better than expectations for a decline of 8,000 people.
The previous month’s figure was revised to a drop of 16,200 people from a previously reported decrease of 8,600.
The rate of unemployment held steady at 7.8% in May, in line with expectations and unchanged from April.
The report also said that the average earnings index rose by a seasonally adjusted 1.7% in May, above expectations for a 1.4% increase, after rising by 1.3% in the previous month.
Following the release of the data, the pound turned higher against the U.S. dollar, with GBP/USD gaining 0.48% to trade at 1.5231.
Meanwhile, European stock markets were little changed. London’s FTSE 100 eased up 0.2%, the EURO STOXX 50 added 0.1%, France’s CAC 40 tacked on 0.1%, while Germany's DAX advanced 0.1%.
In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 21,200 in June, better than expectations for a decline of 8,000 people.
The previous month’s figure was revised to a drop of 16,200 people from a previously reported decrease of 8,600.
The rate of unemployment held steady at 7.8% in May, in line with expectations and unchanged from April.
The report also said that the average earnings index rose by a seasonally adjusted 1.7% in May, above expectations for a 1.4% increase, after rising by 1.3% in the previous month.
Following the release of the data, the pound turned higher against the U.S. dollar, with GBP/USD gaining 0.48% to trade at 1.5231.
Meanwhile, European stock markets were little changed. London’s FTSE 100 eased up 0.2%, the EURO STOXX 50 added 0.1%, France’s CAC 40 tacked on 0.1%, while Germany's DAX advanced 0.1%.