UK unemployment rate dropped to 4.2% in February, down from 4.3% and beat expectation of 4.3%. That’s also the lowest level since 1975.
Employment also rose to a record high between December and February, adding 55k jobs.
However, average weekly earnings grew only 2.8% 3moy, unchanged from January’s reading. That’s a disappointing to markets who expected 3.0% 3moy growth.
GBPUSD clearly pares back some gains after the release.
