UK Feb jobs mixed: Claimant count climbs unexpectedly, wages tick higher

The Office for National Statistics (ONS) showed on Wednesday, the UK’s official jobless rate ticked lower to 4.3% in January, while the claimant count change increased unexpectedly.

The number of people claiming jobless benefits rose by 9.2k in February, against expectations of a 5.0k decrease and 1.6k drop (revised lower from 7.2k) seen previously. The claimant count rate rose to 2.4%.

Wage growth, excluding bonuses, matched expectations, arriving at 2.6% versus 2.5% last, while the gauge including bonuses came in at 2.8% 3m y/y versus 2.6% expected.