Investing.com - The number of people claiming unemployment benefits in the U.K. declined more-than-expected in May, 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 8,600 in May, better than expectations for a decline of 5,000 people.
The previous month’s figure was revised to a drop of 11,800 people from a previously reported decrease of 7,300.
The rate of unemployment held steady at 7.8% in April, in line with expectations and unchanged from March.
The report also said that the average earnings index rose by a seasonally adjusted 1.3% in April, above expectations for a 0.3% increase, after rising by 0.6% in the previous month.
Following the release of the data, the pound added to gains against the U.S. dollar, with GBP/USD adding 0.14% to trade at 1.5669.
Meanwhile, European stock markets remained lower. London’s FTSE 100 eased down 0.2%, the EURO STOXX 50 declined 0.1%, France’s CAC 40 shed 0.1%, while Germany's DAX slumped 0.3%.
In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 8,600 in May, better than expectations for a decline of 5,000 people.
The previous month’s figure was revised to a drop of 11,800 people from a previously reported decrease of 7,300.
The rate of unemployment held steady at 7.8% in April, in line with expectations and unchanged from March.
The report also said that the average earnings index rose by a seasonally adjusted 1.3% in April, above expectations for a 0.3% increase, after rising by 0.6% in the previous month.
Following the release of the data, the pound added to gains against the U.S. dollar, with GBP/USD adding 0.14% to trade at 1.5669.
Meanwhile, European stock markets remained lower. London’s FTSE 100 eased down 0.2%, the EURO STOXX 50 declined 0.1%, France’s CAC 40 shed 0.1%, while Germany's DAX slumped 0.3%.