BREAKING: UK unemployment rate lower than expected, EURGBP falls 📌

07:00 AM BST, United Kingdom - Employment Data for August:

• Unemployment Rate: actual 4.0%; forecast 4.1%; previous 4.1%;
• Employment Change 3M/3M: actual 373K MoM; forecast 250K MoM; previous 265K MoM;
• Unemployment Change Actual: actual 27.9K; forecast 20.2K; previous 0.3K;
• Average Earnings Index +Bonus: actual 3.8%; forecast 3.8%; previous 4.1%;
• Average Earnings ex Bonus: actual 4.9%; forecast 4.9%; previous 5.1%;

The UK unemployment rate has edged lower, but payrolls continue to decline, despite a slightly improved revision for August. The unemployment trend remains unclear. Meanwhile, pay growth is cooling, and real wages have declined over the last three months, which may offer some relief to the Bank of England regarding inflation concerns.