Investing.com - The number of people claiming unemployment benefits in the U.K. rose unexpectedly in October, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said that the claimant count rose by a seasonally adjusted 10,100 in October, compared to expectations for a decline of 5,100 people.
The previous month’s figure was revised a gain of 800 people from a previously reported decline of 4,000.
The rate of unemployment fell unexpectedly to 7.8% last month from 7.9% in September. Analysts’ had expected the jobless rate to hold steady at 7.9%.
The report also said that the average earnings index rose by a seasonally adjusted 1.8% in October, below expectations for a 1.9% gain, after rising by 1.7% in the previous month.
Following the release of the data, the pound remained higher against the U.S. dollar, with GBP/USD adding 0.11% to trade at 1.5890.
Meanwhile, European stock markets held on to losses. London’s FTSE 100 dipped 0.4%, the EURO STOXX 50 shed 0.1%, France’s CAC 40 eased down 0.2%, while Germany's DAX was flat.
In a report, the U.K. Office for National Statistics said that the claimant count rose by a seasonally adjusted 10,100 in October, compared to expectations for a decline of 5,100 people.
The previous month’s figure was revised a gain of 800 people from a previously reported decline of 4,000.
The rate of unemployment fell unexpectedly to 7.8% last month from 7.9% in September. Analysts’ had expected the jobless rate to hold steady at 7.9%.
The report also said that the average earnings index rose by a seasonally adjusted 1.8% in October, below expectations for a 1.9% gain, after rising by 1.7% in the previous month.
Following the release of the data, the pound remained higher against the U.S. dollar, with GBP/USD adding 0.11% to trade at 1.5890.
Meanwhile, European stock markets held on to losses. London’s FTSE 100 dipped 0.4%, the EURO STOXX 50 shed 0.1%, France’s CAC 40 eased down 0.2%, while Germany's DAX was flat.