The surprise decline in the UK unemployment rate and strong growth in average earnings in the three months to April reflect the tightness of the labor market, data from the Office for National Statistics revealed Tuesday.
The jobless rate fell to 3.8 percent in the three months to April from 3.9 percent in the preceding period, while it was forecast to rise to 4.0 percent.
Average earnings including bonuses increased 6.5 percent on a yearly basis, which was much faster than the expected 6.1 percent increase.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.