Investing.com - The number of people claiming unemployment benefits in the U.K. declined more-than-expected in August, while the country’s jobless rate fell to the lowest level since December 2008, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 37,200 last month, compared to expectations for a decline of 30,000 people. July’s figure was revised to a drop of 37,400 people from a previously reported decline of 33,600.
The report also showed that the rate of unemployment declined to 6.2% in the three months to July, compared to expectations for a reading of 6.3% and down from 6.4% in the three months to June.
Meanwhile, the average earnings index, including bonuses, rose by a seasonally adjusted 0.6% in the three months to July, above expectations for a 0.5% gain, after falling by 0.4% in the three months to June.
Excluding bonuses, wages rose by 0.7% in the three months to July, meeting forecasts and following a 0.7% gain in the three months to June.
GBP/USD was trading at 1.6316 from around 1.6318 ahead of the release of the data, while EUR/GBP was at 0.7946 from 0.7945 earlier.
Meanwhile, European stock markets remained modestly higher. London’s FTSE 100 tacked on 0.1%, the DJ Euro Stoxx 50 rose 0.3%, France's CAC 40 advanced 0.4%, while Germany's DAX picked up 0.3%.