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- U.K. unemployment rate dropped to 6.6%
U.K. unemployment rate dropped to 6.6%
The Office
for National Statistics released the U.K. labour market data. The U.K.
unemployment rate fell to 6.6% in the three months to April from 6.8% in the
previous three months. That was the lowest level since early 2009. Analysts had
expected a decline to 6.7%.
Jobless
claims (claimant count) declined by 27,400 in May, compared with a forecast for
a decline of 25,000 people. April’s figure was revised to a decrease of 28,400
from 25,100.
Weekly
earnings increased by 0.7% in the three months to April, missing expectations
for a 1.2% gain, after a 1.7% rise in the previous three months. The growth of
wages is slower than inflation in the U.K. The inflation rate in the UK was
1.8% in April.
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