UK DATA: Jul Claimant Count Unemployment +37,100 m/m; Rate 4.9%
–Jun Average Weekly Earnings +2.6% vs +2.3% in May
–Jun Average Weekly Earnings ex bonuses +2.2% vs +2.1% in May
–Apr-Jun ILO Unemployment +38,000 Q/Q; Rate 7.9%
–Jun Claimant Count revised to +31,300 m/m from +24,500
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Claimant count unemployment rose for the fifth consecutive month in
June and at the fastest pace for more than two years. The number of
people claiming Job Seekers Allowance rose 37,100 between June and July,
the largest increase since May 2009, pushing the unemployment rate up to
4.9% from 4.8% previously, above the median. ILO unemployment was also
up sharply in the latest 3 month period. Headline average weekly
earnings growth rose to 2.6% in the three months to June compared with a
year earlier from 2.3% in May. This was above the median forecast for a
rise of 2.4%.