{"id":100224,"date":"2020-05-19T03:51:22","date_gmt":"2020-05-19T07:51:22","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100224"},"modified":"2020-05-19T04:59:57","modified_gmt":"2020-05-19T08:59:57","slug":"103235-gbp-inr-pound-advances-as-uks-unemployment-rate-declined-in-q1","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103235-gbp-inr-pound-advances-as-uks-unemployment-rate-declined-in-q1\/","title":{"rendered":"GBP\/INR: Pound Advances as UK\u2019s Unemployment Rate Declined in Q1"},"content":{"rendered":"

GBP\/INR<\/a> has extended its gains in early trading on Tuesday, after gaining over 0.70% on Monday. Currently, one British pound<\/a> buys 92.709 Indian rupees<\/a>, up 0.46% as of 7:05 AM UTC. The pair has managed to recover some losses after falling continually since mid-April.<\/p>\n

The pound reacted positively on the latest labor market data. The Office for National Statistics (ONS) said that the unemployment level in the UK declined to 3.9% in the three months to March from 4.0% in the three months to February, though it covered only one week of lockdown. Analysts expected an increase to 4.4%.<\/p>\n

Employment increased by 211,000 in the first quarter of 2020, while analysts expected modest growth of 50,000.<\/p>\n

Check real time GBP to INR exchange rate<\/span><\/a><\/div>\n

UK\u2019s Claimant Count Surges More than Expected<\/h2>\n

However, despite the positive aspects of the latest ONS report, there are many concerns related to the lockdown measures implemented to fight the pandemic.<\/p>\n

The number of UK citizens claiming jobless benefits surged to the highest level in 14 years last month. The claimant count was up by 856,500 to 2.097 million. That represents a 69% increase, which is the biggest monthly surge on record. Analysts surveyed by Reuters anticipated a leap of 676,500 on average.<\/p>\n

It seems that the claimant count could surge by a larger figure if not the government programme to pay 80% of the salaries of those who had been put on temporary leave by their companies.<\/p>\n

Jonathan Athow of ONS concluded<\/a>:<\/p>\n

\u201cWhile only covering the first weeks of restrictions, our figures show COVID-19 is having a major impact on the labour market<\/em>.\u201d<\/p>\n

The UK\u2019s Office for Budget Responsibility (OBR) said that the unemployment rate could surge to 10% in the second quarter of this year, even if there are millions of workers who get paid thanks to the government\u2019s scheme to support those who are temporarily laid off.<\/p>\n

However, even such a high figure pales in comparison with India\u2019s unemployment, which maintained at 24% in the week ended May 17. The labour participation rate increased from 35.4% for the week ended April 26 to the current level of 38.8%. Industries are gradually reopening, the Centre for Monitoring of Indian Economy says.<\/p>\n","protected":false},"excerpt":{"rendered":"

GBP\/INR has extended its gains in early trading on Tuesday, after gaining over 0.70% on Monday. Currently, one British pound buys 92.709 Indian rupees, up 0.46% as of 7:05 AM UTC. The pair has managed to recover some losses after falling continually since mid-April. The pound reacted positively on the latest labor market data. The […]<\/p>\n","protected":false},"author":163946609,"featured_media":82150,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1693],"tags":[2680,1394,1666,2684],"class_list":{"0":"post-100224","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-inr","9":"tag-claimant-count","10":"tag-gbp","11":"tag-inr","12":"tag-uk-unemployment"},"acf":[],"yoast_head":"\nGBP\/INR: Pound Advances as UK\u2019s Unemployment Rate Declined in Q1 - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103235-gbp-inr-pound-advances-as-uks-unemployment-rate-declined-in-q1\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anatol Antonovici\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103235-gbp-inr-pound-advances-as-uks-unemployment-rate-declined-in-q1\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103235-gbp-inr-pound-advances-as-uks-unemployment-rate-declined-in-q1\\\/\"},\"author\":{\"name\":\"Anatol Antonovici\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c9c031720b5822c1d9bb63b59c6535ce\"},\"headline\":\"GBP\\\/INR: Pound Advances as UK\u2019s Unemployment Rate Declined in Q1\",\"datePublished\":\"2020-05-19T07:51:22+00:00\",\"dateModified\":\"2020-05-19T08:59:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103235-gbp-inr-pound-advances-as-uks-unemployment-rate-declined-in-q1\\\/\"},\"wordCount\":384,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103235-gbp-inr-pound-advances-as-uks-unemployment-rate-declined-in-q1\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/GBP-INR-Rupee-Benefits-from-US-China-Trade-Optimism.jpg\",\"keywords\":[\"claimant count\",\"gbp\",\"inr\",\"UK unemployment\"],\"articleSection\":[\"GBP\",\"INR\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103235-gbp-inr-pound-advances-as-uks-unemployment-rate-declined-in-q1\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103235-gbp-inr-pound-advances-as-uks-unemployment-rate-declined-in-q1\\\/\",\"name\":\"GBP\\\/INR: Pound Advances as UK\u2019s Unemployment Rate Declined in Q1 - 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