UK Job Market Improves in April

The UK jobs market continued to improve in the three months to April, although the rate of wage increases slowed sharply, official figures show.

The number of people out of work fell by 161,000 to 2.16 million, bringing the unemployment rate down to 6.6%.

The number of people in work rose by a record 345,000, to 30.5 million, most of which are in full-time employment.

But the quarterly rate of earnings growth, including bonuses, slowed to 0.7% from 1.9% the previous month.

This was largely due to delayed bonus payments, the Office for National Statistics (ONS) said. Excluding bonuses, pay rose by 0.9%.

The total number of people out of work is now at its lowest level for more than five years, with youth unemployment, which covers 16-24 year olds, standing at 853,000.

The number of people claiming Jobseeker’s Allowance in May fell by 27,400 to 1.09 million, the ONS said.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza