• UK uneployment rate stable, average weekly earnings below estimates. GBP/USD moves lower

Market news

15 February 2017

UK uneployment rate stable, average weekly earnings below estimates. GBP/USD moves lower

Estimates from the Labour Force Survey show that, between July to September 2016 and October to December 2016, the number of people in work increased, the number of unemployed people was little changed, and the number of people aged from 16 to 64 not working and not seeking or available to work (economically inactive) decreased.

The unemployment rate was 4.8%, down from 5.1% for a year earlier. It has not been lower since July to September 2005. The unemployment rate is the proportion of the labour force (those in work plus those unemployed) that were unemployed.

Latest estimates show that average weekly earnings for employees in Great Britain in nominal terms (that is, not adjusted for price inflation) increased by 2.6%, both including and excluding bonuses, compared with a year earlier.

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