Britain’s unemployment rate remained unchanged at 4.9%, defying expectations of a rise to 5.0%, while wage growth softened slightly.
The UK unemployment rate stayed at 4.9% in the three months to May, matching the prior period and undershooting the 5.0% consensus. The data, released by the Office for National Statistics, showed resilience in the labor market despite economic headwinds.
Jobless claims rose by 6.7K in June, a slower increase than the 28.3K expected but higher than May’s revised 1.3K gain. Employment change reached 147K in May, up from 100K in April. Wage growth, excluding bonuses, held steady at 3.4% year-over-year, while total earnings including bonuses dipped to 4.3% from 4.4%, missing the 4.5% estimate.
The British pound edged 0.14% higher against the dollar following the release, trading at 1.3450.