UK ILO Unemployment Rate holds steady at 3.7% in December vs. 3.7% expected

• The Unemployment Rate in the UK stood unchanged at 3.7% in December.
• UK Claimant Count Change came in at -12.9K in January.
• The UK wages excluding bonuses jumped by 6.7% YoY in December vs. 6.5% expected.

According to the latest data released by the Office for National Statistics (ONS) on Tuesday, the UK’s ILO Unemployment Rate remained unchanged at 3.7% in December vs. the 3.7% expected while the claimant count change showed a decline in the reported month.

The number of people claiming jobless benefits fell by 12.9K in January when compared to -3.2K booked previously.

The UK’s average weekly earnings, excluding bonuses, arrived at 6.7% 3Mo/YoY in December versus 6.5% last and 6.5% expected while the gauge including bonuses came in at 5.9% 3Mo/YoY in December versus 6.5% previous and 6.2% expected.

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About UK jobs

The UK Average Earnings released by the Office for National Statistics (ONS) is a key short-term indicator of how levels of pay are changing within the UK economy. Generally speaking, positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).