Investing.com - The jobless rate in the U.K. held steady at a decade-low in December, while the average earnings index increased in line with expectations, painting a mixed picture of the labor market, official data showed on Wednesday.
The Office for National Statistics said that the rate of unemployment held at 5.1% in the three months to December, disappointing expectations for a drop to 5.0%.
The claimant count fell by a seasonally adjusted 14,800 in January, compared to expectations for a decrease of 3,000 people, and following a drop of 15,200 a month earlier, whose figure was revised from a previously reported decline of 4,300.
Meanwhile, the average earnings index, including bonuses, rose by a seasonally adjusted 1.9% in the three months to December, matching forecasts and after increasing by 2.1% in the three months to November.
Excluding bonuses, wages rose by 2.0%, above expectations for 1.8% and following a 1.9% increase in the three months to November.
That may add to the case for the Bank of England to keep its benchmark interest rate at a record-low 0.5% for now.
GBP/USD fell to 1.4272 from around 1.4293 ahead of the release of the data, while EUR/GBP was at 0.7803 from 0.7796 earlier.
Meanwhile, European stock markets were broadly higher. London’s FTSE 100 rose 1.15%, the EURO STOXX 50 jumped 1.5%, France's CAC 40 advanced 1.4%, while Germany's DAX rallied 1.2%.