UK average weekly earnings steady in Feb, miss estimates

The Office for National Statistics (ONS) showed on Tuesday, the UK’s average weekly earnings, excluding bonuses matched expectations, arriving at 2.8% 3m y/y versus 2.6% last while the gauge including bonuses steadied at 2.8% 3m y/y versus 3.0% expected.

The Kingdom’s official jobless rate ticked lower to 4.2% in February, while the claimant count change increased more-than-expected.

The number of people claiming jobless benefits rose by 11.6k in March, against expectations of a 5.0k increase and +15.1k (revised from +9.2k) seen previously. The claimant count rate rose to 2.4%.