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

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.