UK Labour Market Data

The British Pound rose in response to inflation data in the mid-week session and those looking for better exchange rates to sell Sterling will turn to today's labour market statistics to provide further impetus.

The latest labour market data for the UK shows the recovery extended into May with the number of payrolled employees increasing for the sixth consecutive month, up by 197K in May 2021 to 28.5 million.

The UK unemployment rate unexpectedly fell to 4.9% in February, down from 5.0% in January, but the decline flies in the face of consensus expectations for a rise to 5.1% to be announced.

UK labour market data covering the November and December periods have been released and are on balance indicating a more robust picture than the market had been anticipating, although another deterioration in January is likely given the third lockdown.