The UK’s ILO Unemployment Rate was stable at 4.2% for the three months leading to October, contrary to the market prediction of a 4.2% print in the October quarter, the Office for National Statistics (ONS) has reported. The British Employment Change for October stood at 50K, as compared to a gain of 54K in September. According to the report, the number of unemployment benefit claimants rose by 16K in November. This was a significant increase in comparison to October’s increase of 8.9K. In the context of earnings, the Average Earnings excluding Bonus rose by 7.3% 3M YoY in October, compared to September’s rise of 7.8%.

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