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UK Unemployment Rate unchanged at 5.1%

Wednesday, Feb 17 2016
The jobless rate in the U.K. held steady at a decade-low in December, while the average earnings index increased in line with expectations, painting a mixed picture of the labor market, official data showed on Wednesday. The Office for National Statistics said that the rate of unemployment held at 5.1% in the three months to December, disappointing expectations for a drop to 5.0%.
The claimant count fell by a seasonally adjusted 14,800 in January, compared to expectations for a decrease of 3,000 people, and following a drop of 15,200 a month earlier, whose figure was revised from a previously reported decline of 4,300. 
 
Meanwhile, the average earnings index, including bonuses, rose by a seasonally adjusted 1.9% in the three months to December, matching forecasts and after increasing by 2.1% in the three months to November. Excluding bonuses, wages rose by 2.0%, above expectations for 1.8% and following a 1.9% increase in the three months to November.
 
Sterling is currently being traded around 1.4290 area. Pair is likely to find support around 1.42 handle and resistance above 1.4350 level. Later today, in the US session, Building Permits, Housing Starts, PPI and Industrial Production figures are scheduled for a release, as well as FOMC Meeting Minutes.
More in this category: « Aussie little changed in a quiet overnight trade US PPI rose by 0.1% in January »

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