Unemployment Rate unchanged at 5.1%

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Wednesday, Mar 16 2016

For February 2016 there were 716,700 people claiming unemployment related benefits. This was 18,000 fewer than for January 2016 and 102,500 fewer than for a year earlier and also the lowest since April 1975. Analysts were forecasting decrease by 8,800.

Average weekly earnings for employees in Great Britain increased by 2.1% including bonuses and by 2.2% excluding bonuses compared with a year earlier. The unemployment rate was 5.1%, lower than for a year earlier (5.7%). This was in line with market expectations.

Sterling is currently being traded few points above 1.41 level. Pair is likely to find support around 1.4050 handle and resistance above 1.42 level. Later today, in the US session, CPI, Building Permits, Housing Starts and Industrial Production figures are scheduled for a release, as well as FOMC rate decision.

More in this category: « MI Leading Index continues to show below trend growth US CPI down by 0.2% in February »

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