UK Unemployment Rate Beats Estimates

Data published by the Office of National Statistics (ONS) showed that the UK official unemployment rate remained unchanged at 3.9% posted in May while the number of claimants count change fell unexpectedly last month.

The number of people claiming jobless decreased by 28.1K in June, compared to expectations for +250K and +528.9K previously recorded. The number of claims decreased to 7.3% from a previous 7.8%.

The UK’s average weekly Earnings, excluding bonuses, arrived at + 0.7% 3Mo / YoY in May versus + 1.7% last and + 0.5% expected while the gauge including bonuses came in at -0.3% 3Mo / YoY in May versus + 1.0% previous and -0.4% expected.