UK: Claimant Count Change decreases more than expected in January

The number of unemployed people in the UK fell by 12.5K in the three months to January, following a 12.1K drop registered in the three months to December, National Statistics reported on Wednesday. This result is more positive than the expected 5K increase. The Claimant Count Rate was at 4.7%, following a 4.7% reading.

The ILO Unemployment Rate ticked up to 7.8% in December, against market consensus of remaining at 7.7%. Average Earnings excluding Bonus rose 1.3% in the three months to December, following a 1.4% reading in the three months to November and against expectations of remaining at the same level. Average Earnings including Bonus increased 1.4%, in comparison with 1.5% growth, as projected.