UK Unemployment Falls but Wage Growth Disappoints

The U.K. labor market continued to improve in the three months to September but wage growth was below expectations, according to the latest data from the Office of National Statistics (ONS).

In its latest monthly report on the labor market, the ONS said the country’s unemployment rate fell to 5.3 percent, the lowest level since the three months to April 2008.

Wage growth lagged expectations, however, with average weekly earnings rising 3 percent, year on year, in the three months to September, below forecasts for a 3.2 percent increase by analysts polled by Reuters.

Sterling fell to $1.5143 against the dollar after the data, down from $1.5170 beforehand.

CNBC

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