Unexpected rise in UK unemployment benefits 

By @ibtimes on

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%.

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