Forexpros – The number of people claiming unemployment benefits in the U.K. rose unexpectedly in May, adding to concerns over the nation’s economic outlook, 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 8,100 in May, defying expectations for a decline of 3,000.
The previous month’s figure was revised to a drop of 12,800 from a previously reported decline of 13,700.
The rate of unemployment held steady at 8.2%, in line with expectations, after ticking in each of the past two months. According to the data, the total number of unemployed people stood at 2.61 million last month.
The report also said that the average earnings index rose by a seasonally adjusted 1.4% in May, above expectations for a 0.8% gain, after rising by 0.9% in the previous month.
Following the release of the data, the pound added to losses against the U.S. dollar, with GBP/USD dipping 0.21% to trade at 1.5692.
Meanwhile, European stock markets remained mildly lower. London’s FTSE 100 eased down 0.1%, the EURO STOXX 50 fell 0.1%, France’s CAC 40 declined 0.3%, while Germany’s DAX slumped 0.1%.
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