UK jobs: Claimant count surprises positively, wages tick higher

The Office for National Statistics noted on Wednesday, the UK’s official jobless rate remained at eight-year lows of 4.9% in July, while the claimant surprised markets on the upside in the reported month.

The number of people claiming jobless benefits unexpectedly ticked lower from 400 jobseekers in June to a negative 8600 last month. The claimant count rate stayed at 2.2%, same as that seen in May.

Wage growth, excluding bonuses matched expectations, coming in at 2.3% versus 2.2% booked previously, while the gauge including bonuses also came in line with expectations at 2.4% 3m y/y versus 2.3% last. Employment change stood at 72k vs 150k expected and 176k prior.