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- U.K. unemployment rate is down to 5.5% in the first quarter
U.K. unemployment rate is down to 5.5% in the first quarter
The Office for National Statistics (ONS) released its labour market data on Wednesday. The U.K. unemployment rate fell to 5.5% in the January to March quarter from 5.7% in the October to December quarter, in line with expectations.
It was the lowest level since 2008.
The claimant count decreased by 12,600 people in April, missing expectations for a drop by 20,000, after a decrease of 16,700 people in March. It was the smallest monthly decline since March 2013.
March's figure was revised down from a decline of 20,700.
Average weekly earnings, excluding bonuses, climbed by 2.2% in the January to March quarter, exceeding expectations for a rise by 2.1%, after a 1.9% gain in the October to December quarter.
Average weekly earnings, including bonuses, rose by 1.9% in the January to March quarter, exceeding expectations for a gain of 1.7%, after a 1.7% increase in the October to December quarter.
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