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UK claimant count dropped -20k Jan, unemployment edged up to 5.1 in Dec

UK claimant count dropped -20k in January, versus expectation of 35k rise. Total claimant count was relatively unchanged at 2.6m, which was still 109.4% above March 2020’s level.

Unemployment rate edged up to 5.1% in the three months to December, up from 5.0%, matched expectations. Total actually weekly hours worked rose 53.7 million hours, or 5.8%, to 978.7 million. Average earnings excluding bonus rose 4.1% 3moy, above expectation of 4.0%. Average earnings including bonus rose 4.7% 3moy, above expectation of 4.2% 3moy.

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