UK jobless rate climbs to 4.9% in Oct vs. 5.1% expected, GBP/USD uninspired

The Office for National Statistics (ONS) showed on Tuesday, the UK’s official jobless rate rose to 4.9% in October vs. the previous 4.8% and 5.1% expected, while the claimant count change showed a bigger-than-expected increase last month.

The number of people claiming jobless benefits rose by 64.3K in November, against expectations +50.0K and -29.8K seen previously. The claimant count rate came in at 7.4% vs. 7.3% last.

The UK’s average weekly Earnings, excluding bonuses, arrived at +2.8% 3Mo/YoY in Oct versus +2.6% last and +1.9% expected while the gauge including bonuses came in at +2.7% 3Mo/YoY in Oct versus +2.2% previous and +1.3% expected.

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