13 May 2015
UK first quarter unemployment rate falls, wages rise
FXStreet (Mumbai) - The data released by the UK Office for National Statistics on Wednesday showed unemployment fell to it slowest since 2008, accompanied by a rise in wages.
The ILO unemployment rate for the first quarter fell to 5.5% from 5.6%. Meanwhile, wages grew by 1.9%, beating the estimate of a 1.7% rise, with wages ex-bonus rising 2.2% year-on-year in March. The claims for jobless benefits fell 12,600 in April from March, less than the 20,000 predicted by economists.
Focus now shifts to Bank of England quarterly inflation report due for release at 10:30 a.m. in London.
The ILO unemployment rate for the first quarter fell to 5.5% from 5.6%. Meanwhile, wages grew by 1.9%, beating the estimate of a 1.7% rise, with wages ex-bonus rising 2.2% year-on-year in March. The claims for jobless benefits fell 12,600 in April from March, less than the 20,000 predicted by economists.
Focus now shifts to Bank of England quarterly inflation report due for release at 10:30 a.m. in London.