UK ILO unemployment unexpectedly rises to 7.9%

By @ibtimes on

UK ILO unemployment unexpectedly rose to 7.9% in the three months ending October compared with estimates of 7.7% which was recorded in the three months ending September.

In the same period, average weekly earnings rose to 2.2% from the prior 2.0% which was revised up to 2.1% while analysts expected 2.1% rise. The same reading excluding bonus came in at 2.3%, higher than the previous 2.2%, yet lower than forecasts of 2.4%.

By extension, claimant count rate for November stagnated at 4.5%, in line with forecasts, while jobless claims dropped 1.2 thousands compared with the revised 5.2 thousands decline in October from the initial -3.7 thousands and median projections of 3.0 thousands decline.

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