UK jobless rate drops to 4.2% in October vs. 4.2% expected

• UK claimant count change arrived at -49.8K in November.
• The unemployment rate in the UK dropped to 4.2% in October.
• The UK wages excluding bonuses fell to 4.3% YoY vs. 4.0% expected.

The Office for National Statistics (ONS) showed on Tuesday, the UK’s official jobless rate matched market expectations, by arriving at 4.2% in October vs. the previous 4.3% and 4.2% expected while the claimant count change showed a big drop last month from the previous.

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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, the positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).