On Wednesday, November 16th we heard the latest information on developments in the UK labor market. Publication of ONS (Office for National Statistics) from 10:30 contain primarily report on changes in the average salary of the British as well as data on the unemployment rate and the change in employment in the last two months. How for the mixed data reacted pound?
In the latest report, the ONS noted that in the period from July to September this year, the number of unemployed people dropped noticeably. In September, the British workers was 31.8 million, which meant that the registered unemployment rate in the UK fell to 4.8% from 4.9% reported last month.
At the same time, October was the third month in a turn in which the number of people applying for unemployment benefits increases in the scale of month to month. Recent data indicate that 9,800 new applications submitted in the last month. ONS points out, however, that the statistics also take into account those who have applied for but not yet got any of these benefits.
Fails as well data on average weekly payment of an average Briton. Earnings including bonuses rose in September by 2.3% y / y. Market forecasts assumed acceleration of wage growth to 2.4% y / y. Working Briton can therefore count for 505 GBP per week (the value of the bonuses before tax). It’s about 12 pounds more than a year ago – said the ONS.
How reacts GBP?
Mixed data introduced some confusion on the chart for pairs associated with the British pound. After a momentary jump volatility of GBP/USD ,at the end chose but south direction, indicating that despite the drop in unemployment, investors have a negative approach to the latest data:
After all, GBP declines are not large enough to change the situation on the EUR / GBP. Pair after an earlier defeat of local support seems to continue to decline:
