The United Kingdom continues to provide mixed data for investors and complicating the situation and the uncertainty over the outlook for recovery. Following yesterday's surprise drop in inflation to 4.0% the jobs figures today added more mixed signals.
Jobless claims unexpectedly rose 0.7 thousand in March following a revised drop of 8.5 thousand from 10.2 K drop which was worse than the expected drop of 3.0 thousand. The claimant count rate remained steady as expected at 4.5%.
On the other hand, the ILO Unemployment rate for the three months to February dropped unexpectedly to 7.8% from 8.0% better than expectations for the rate to remain steady. Average weekly earnings in those three months on the year also fell back to 2.0% from 2.3% and opposed the expected rise to 2.6%, while excluding bonuses was at 2.2% down from the revised previous of 2.3%.