Jobless Claims in U.K up by 24,500

Wednesday, 13 July 2011 03:01

Report for Jobless Claims in the United Kingdom for July disappoint today as 24,500 people claimed for unemployment related benefits during the previous month;  July's unemployment change was even larger than June's unemployment change of 22,500. 

Expectations for July's jobless claims were forecasted at 15,100 by economists.  Unemployment Rate remains steday at 7.7%. 

Total pay including the bonuses rose by 2.3% from 2.0% pm a year earlier, as reported by the office for National Statistics.

Sterling begun trading lower after the news release.  GBP/USD fell down by around 40 pips shortly after the report, to trade at 1.59.  The pair made a recovery later on to trade at 1.5960