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UK Jobless Rate At 44-Year Low; Wages Grow Most In 11 Years

The UK unemployment rate remained unchanged at 44-year low in three months to May and wages grew at the fastest pace in 11 years, data from the Office for National Statistics showed Tuesday.

The unemployment rate remained unchanged at 3.8 percent in three months to May, in line with expectations. This was the lowest since the final quarter of 1974.

At the same time, the employment rate fell slightly to 76 percent in three months to May.

Average weekly earnings of employees excluding bonuses climbed 3.6 percent from the previous year.

Total pay including bonuses grew 3.4 percent, faster than the expected growth of 3.1 percent.

In June, the claimant count rate rose to 3.2 percent from 3.1 percent in May. Jobless claims rose by 38,000 from the previous month.

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