Investing.com - The U.K. jobless rate remained unchanged in the three months to October, while the number of people claiming unemployment benefits last month fell more than expected, according to data released on Wednesday.
The Office for National Statistics said the unemployment rate held steady at 6.0% in the three months to October, compared to expectations for a tick down to 5.9%.
The number of people in the U.K. claiming unemployment benefits fell by 26,900 last month, compared to expectations for a decline of 21,200.
October’s figure was revised to a drop of 25,100 people from a previously reported decline of 20,400.
The report said average earnings, excluding bonuses, rose by 1.6%, ahead of forecasts for a gain of 1.5%, while salary growth including bonuses rose by a stronger than forecast 1.4%
GBP/USD was trading at 1.5712 from around 1.5717 ahead of the release of the data, while EUR/GBP was at 0.7934 from 0.7932 earlier.
European stock markets remained sharply lower. France’s CAC 40 was down 0.80%, the DJ Euro Stoxx 50 dropped 1.11%, Germany's DAX skidded 0.89%, while London’s FTSE 100 was down 0.72%.