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11 Jun 2014
Sterling rallies on further UK unemployment declines
FXStreet (London) - Sterling has rallied strongly after UK unemployment fell further than expected, with February-April ILO unemployment falling to 6.6 percent
According to the Office for National Statistics, over the February to April period of 2014 there were 2.16 million unemployed people, 161,000 fewer than for November 2013 to January 2014 and 347,000 fewer than a year earlier.
The unemployment rate was 6.6 percent of the economically active population (those in work plus those seeking and available to work), down from 7.2 percent for November 2013 to January 2014 and down from 7.8 percent a year earlier.
Nominal wages also continue to show signs of improvement. Pay including bonuses for employees was 0.7 percent higher than a year earlier, with pay excluding bonuses 0.9 percent higher.
GBP/USD climbed to a high of USD1.6784, up 0.16 percent on the session.
According to the Office for National Statistics, over the February to April period of 2014 there were 2.16 million unemployed people, 161,000 fewer than for November 2013 to January 2014 and 347,000 fewer than a year earlier.
The unemployment rate was 6.6 percent of the economically active population (those in work plus those seeking and available to work), down from 7.2 percent for November 2013 to January 2014 and down from 7.8 percent a year earlier.
Nominal wages also continue to show signs of improvement. Pay including bonuses for employees was 0.7 percent higher than a year earlier, with pay excluding bonuses 0.9 percent higher.
GBP/USD climbed to a high of USD1.6784, up 0.16 percent on the session.