Seeking Alpha

U.K. unemployment edges down to 7.7%

  • As expected, U.K. unemployment dropped to 7.7% in June-August from 7.8% in March-May.
  • The number of unemployed -18,000 to 2.49M.
  • The growth in average weekly earnings excluding bonuses was +0.8% on year.
  • Inactivity rate 22.2% vs 22.4%.
  • Claimant count -41,700 in September vs -41,600 in August and consensus of -25,000. Claimant count rate 4% vs 4.2% in August.
  • The pound spikes vs the dollar and is +0.1% to $1.6019, while the FTSE is -0.4%. (PR)
  • ETFs - Stocks: FKU, EWU, EWUS, DXPS. Currency: GBB, FXB.
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