UK Unemployment Rate rose to 5.6%

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Wednesday, Jul 15 2015

For June 2015 there were 804,200 people claiming unemployment related benefits. The number of people claiming unemployment related benefits is up 7,000 from May 2015 (the first monthly increase since October 2012). Analysts were anticipating decrease by 8,900. It is down 240,200 from a year earlier, but 25,800 higher than the pre-downturn trough of 778,400 for February 2008.

The unemployment rate for those aged 16 and over for March to May 2015 was 5.6%. This was down from 6.5% for a year earlier but higher than the pre-downturn trough of 5.2% for late 2007 to early 2008. Unemployment Rate also rose to 5.6% on a monthly basis, missing expectations on remaining unchanged at 5.5%.

After the data Sterling was pushed higher and is currently being traded around 1.56 handle. Pair is likely to find support around 1.5550 level and resistance above 1.5660 area. Later today, in the US session PPI, Empire State Manufacturing Index and Industrial Production figures are scheduled for a release.

More in this category: « China's GDP remained steady at 7% in Q2 US PPI up by 0.4% in June »

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