Investing.com - The number of people claiming unemployment benefits in the U.K. declined significantly more-than-expected in September, 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 41,700 in September, better than expectations for a decline of 25,000 people.
The previous month’s figure was revised to a drop of 41,600 people from a previously reported decrease of 32,600.
The rate of unemployment held steady at 7.7% in August, in line with expectations and unchanged from July.
The Bank of England previously announced plans to keep interest rates on hold at record lows as long as the U.K. unemployment rate remains above 7%.
The report also said that the average earnings index rose by a seasonally adjusted 0.7% in August, below expectations for a 1% increase, after rising by 1.1% in the previous month.
Following the release of the data, the pound remained higher against the U.S. dollar, with GBP/USD rising 0.16% to trade at 1.6023.
Meanwhile, European stock markets were lower. London’s FTSE 100 eased down 0.4%, the EURO STOXX 50 shed 0.3%, France’s CAC 40 lost 0.7%, while Germany's DAX dipped 0.1%.
In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 41,700 in September, better than expectations for a decline of 25,000 people.
The previous month’s figure was revised to a drop of 41,600 people from a previously reported decrease of 32,600.
The rate of unemployment held steady at 7.7% in August, in line with expectations and unchanged from July.
The Bank of England previously announced plans to keep interest rates on hold at record lows as long as the U.K. unemployment rate remains above 7%.
The report also said that the average earnings index rose by a seasonally adjusted 0.7% in August, below expectations for a 1% increase, after rising by 1.1% in the previous month.
Following the release of the data, the pound remained higher against the U.S. dollar, with GBP/USD rising 0.16% to trade at 1.6023.
Meanwhile, European stock markets were lower. London’s FTSE 100 eased down 0.4%, the EURO STOXX 50 shed 0.3%, France’s CAC 40 lost 0.7%, while Germany's DAX dipped 0.1%.