UK jobless claims +23,800, ILO (3m) May unemployment rate 7.6%

UK June jobless claims rose by +23,800, better than the median forecast calling for a rise of +41,200, with the claimant count rate at 4.8%, the highest rate since November 1997.

The ILO jobless total rose +281,000 in 3 months to May, the biggest rise on record, giving a rate of 7.6%, the highest since January 1997, and above the median forecast of 7.4%.

Cable has given up 30 points post release, presently at 1.6360.