UK wages including bonuses rose by 3.4% in November; unemployment rate ticks lower

   •  Wages excluding bonuses rose by 3.3% 3m/y compared to 3.3% expected.
   •  Wages including bonuses rose by 3.4% 3m/y compared to 3.3% expected.
   •  The UK unemployment rate unexpectedly ticks lower to 4.0% in November.

The Office for National Statistics (ONS) showed on Tuesday, the UK’s average weekly earnings, excluding bonuses, matched expectations and arrived at 3.3% 3m/y versus 3.3% last. Meanwhile, the gauge including bonuses bettered expectations and came in at 3.4% 3m/y as against 3.3% 3m/y previous. 

The Kingdom’s official jobless rate unexpectedly ticked down to 4.0% in November, while the claimant count change showed a bigger-than-expected increase. The number of people claiming jobless benefits rose by 20.8K in December as against expectations of a 20.0K increase and an upwardly revised reading of 24.8K seen previously.