Forex Pros – The number of people claiming unemployment benefits in the U.K. rose unexpectedly in January, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said that the claimant count rose by a seasonally adjusted 2,400 in January, after dropping by 3,400 in December, whose figure was revised down from 4,100.
Analysts had expected the claimant count to fall by 3,300 in January.
Meanwhile, the rate of unemployment was unchanged broadly in line with expectations in December, holding steady at a seasonally adjusted 7.9%.
The report also said that the average earnings index rose less-than-expected in December, rising by a seasonally adjusted 1.8%, falling short of analysts’ expectations for an increase of 2.0%.
Following the release of the data, the pound was up against the U.S. dollar, with GBP/USD gaining 0.16% to hit 1.6152.
Meanwhile, European stock markets were broadly higher. The FTSE 100 was up 0.45%, the EURO STOXX 50 jumped 0.91%, France’s CAC 40 added 0.83%, while Germany’s DAX climbed 0.34%.
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