Investing.com - The jobless rate in the UK was unchanged as expected at a prior 42-year low in November, while wage inflation excluding bonuses unexpectedly ticket higher, official data showed on Wednesday.
The Office for National Statistics said that the rate of unemployment held steady at 4.3% in November, matching consensus expectations.
The claimant count increased by a seasonally adjusted 8,600 in December, worse than expectations for a gain of 5,400 people and following a rise of 12,200 a month earlier, whose figure was revised from a previously reported 5,900 increase.
Meanwhile, the average earnings index, including bonuses rose by a seasonally adjusted 2.5% in the three months to November, in line with forecasts and the prior month’s reading.
Excluding bonuses, wages rose by 2.4% in the three months to November, compared to expectations for it match the prior month’s reading of a 2.3% gain.
Latest estimates show that average weekly earnings for employees in Great Britain in real terms (that is, adjusted for price inflation) fell by 0.2% including bonuses, and fell by 0.5% excluding bonuses, compared with a year earlier, the ONS noted.
Following the report, GBP/USD traded at 1.4106 from around 1.4094 ahead of the release of the data, EUR/GBP was at 0.8751 from 0.8761 earlier, while GBP/JPY exchanged hands at 154.55 compared to 154.49 previously.
Meanwhile, European stock markets continued trading lower. London’s FTSE 100 lost 0.52%, the benchmark Euro Stoxx 50 traded down 0.14%, France's CAC 40 fell 0.22%, while Germany's DAX gave up 0.17%.