INSTANT VIEW - Jobless claims up for fifth straight month

Wed Jul 16, 2008 9:58am BST
 
Email | Print | | Single Page
[-] Text [+]

LONDON (Reuters) - The number of Britons out of work and claiming benefits rose for a fifth straight month in June and by its largest amount since 1992, official data showed on Wednesday.

The jobless rate, however, stood at 2.6 percent -- a far cry from the near 10 percent that were out of work back in the early 1990s when the economy fell into a protracted recession.

Average earnings growth eased in May, in a sign that higher

living costs have yet to feed through to wages.

********************************************************

KEY POINTS

- Weakest single month average earnings growth since June

2007, when it was 3.2 percent

- Biggest rise in claimant count since December 1992, when it rose by 71,000 and the unemployment rate stood at 9.9 percent  Continued...

 
Detail showing a commercial U.S. Dollar rate against British Sterling is displayed in central London in this file photo December 1, 2006.  REUTERS/Toby Melville
Pound picking up strength

Sterling will gradually strengthen against the dollar over the next 12 months but is unlikely to move much, a Reuters poll shows.  Full Article | Related Story 

Market Update

  • UKUK
  • USUS
  • Europe
  • Asia
  • UK Most Actives

Most Popular Business News on Reuters UK

  • Articles
  • Videos