UK April average weekly earnings: Bang on expectations

The Office for National Statistics (ONS) showed on Tuesday, the UK’s average weekly earnings, excluding bonuses matched expectations, arriving at 2.9% 3m y/y versus 2.8% last while the gauge including bonuses ticked lower to 2.6% 3m y/y versus 2.8% previous and 2.6% expected.

The Kingdom’s official jobless rate steadied 4.2% in March, while the claimant count change showed a much bigger-than-expected increase.

The number of people claiming jobless benefits rose by massive 31.2k in April, against expectations of a 7.8k increase and +15.7k (revised from +11.6 k) seen previously. The claimant count rate rose to 2.5%.