European Economic News

U.K. Jobless Rate At 5-Year Low

The U.K. unemployment rate fell to a five-year low in the first quarter, data from the Office for National Statistics showed Wednesday.

The ILO jobless rate declined to 6.8 percent during January to March, in line with expectations, from 7.2 percent in October to December.

Average earnings pay including bonuses increased 1.7 percent in the first quarter from a year earlier. Excluding bonuses, average income advanced 1.3 percent.

There were 1.12 million people claiming Jobseeker's Allowance in April, which was down 25,100 from March. Jobless claims, a narrow measure of unemployment, was expected to fall by 30,000.

The claimant count has fallen for 18 consecutive months, ONS said. The claimant count rate came in at 3.3 percent versus 3.4 percent in March.

Partly due to more self-employed people, employment rose by 283,000 from the prior quarter to 30.43 million in January to March period.

by RTTNews Staff Writer

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