- UK: ILO Unemployment Rate declines to 3.7% in March vs. 3.8% expected
Market news
17 May 2022
UK: ILO Unemployment Rate declines to 3.7% in March vs. 3.8% expected
- ILO Unemployment Rate in the UK declined to 3.7% from 3.8%.
- GBP/USD edges higher toward 1.2370 after the data.
The ILO Unemployment Rate in the UK declined to 3.7% in three months to March from 3.8%, the UK's Office for National Statistics reported on Tuesday. This reading came in slightly lower than the market expectation of 3.8%.
Further details of the publication revealed that the Claimant Count Change in April was -56.9K, compared to analysts' estimate of -38.8K. Finally, the Average Earnings Including Bonus and Excluding Bonus rose by 7% and 4.2%, respectively, on a yearly basis.
Market reaction
GBP/USD gained traction with the initial reaction and was last seen rising 0.37% on a daily basis at 1.2363.
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