UK unemployment falls to lowest level in 42 years

UK unemployment falls to lowest level in 42 years

U.K. unemployment rate fell to 4.6 percent in the quarter ended March, hitting the lowest level since 1975, down from a previous of 4.6 percent, while analysts had predicted no change.

Wage growth, including bonus, soared to an annual 2.1 percent in the quarter through March, coming below both forecasts of 2.2 percent.  

Jobless benefits edged up 19,400 in April to 793,000 from March’s reading that was revised to 33,500 increase.

As of 10:00 GMT, the pound traded higher against the U.S. dollar around 1.2942, resuming its rise for a fourth straight session.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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