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15 May

By Ahmed Mamdouh

Category: Forex News

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UK wage growth eases, unemployment steadies

U.K. unemployment report released on Tuesday showed an ease in the wage growth in the first quarter, while unemployment remained unchanged.  

Average earrings including bonuses soared 2.6 percent in the quarter ended March, below forecasts of 2.7 percent, compared to a prior of 2.8 percent.

Unemployment rate stood to 4.2 percent during the same period, coming in line with both prior and expected readings.

Jobless benefits edged up by 31,200 last month, compared to March’s reading of 11,600 increase. Analysts had predicted a rise by 13,300.

As of 08:38 GMT, the pound retreated versus the U.S. dollar $1.3537, where it has been moving in a sideway direction since early May.


Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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