UK Unemployment Rate fell to 5.6%

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Friday, Apr 17 2015

According to the latest release number of unemployed in Great Britain was down 20,700 from February 2015 and down 369,400 from a year earlier, but below market predictions on decrease by 29,100. It was also 6,000 lower than the pre-downturn trough of 778,400 for February 2008.

Unemployment rate for those aged 16 and over for the 3 months ending February 2015 was 5.6%, in line with market forecasts. This was down from 5.8% for September to November 2014 and down from 6.9% for a year earlier but higher than the pre-downturn trough of 5.2% for late 2007/early 2008. Total pay for employees in Great Britain increased by 1.7%, missing market expectations on increase by 1.8%, and lower than the growth rate between the three months to January 2014 and the three months to January 2015 (1.9%).

Despite mixed figures, Sterling was pushed higher after the data and is currently being traded slightly below 1.50 handle. Pair is likely to find support around 1.5050 area and resistance around 1.4930 level. Later today, in the US session, CPI and Consumer Sentiment figures are scheduled for a release.

More in this category: « Aussie at 0.78 handle in a quite morning trade Euro higher in a less eventful European part of the session »

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