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Financial News: UK Jobless Rate Falls In April

UK Jobless Rate Falls In April

06/14/2022 - 02:41:00 (RTTNews)

(RTTNews) - The UK unemployment rate declined further in three months to April, the Office for National Statistics said Tuesday.

The jobless rate fell 0.2 percentage points to 3.8 percent in three months to April but remained above the expected 3.6 percent.

At the same time, the employment rate increased 0.2 percentage points on the quarter to 75.6 percent but was still below pre-coronavirus pandemic levels.

In three months to May, the number of job vacancies rose to a new record of 1,300,000. However, the ONS said the rate of growth in vacancies continued to slow down.

Average earnings including bonuses rose 6.8 percent in three months to April from the last year, slower than the economists' forecast of 7.6 percent.

At the same time, excluding bonuses, average earnings gained 4.2 percent versus the expected growth of 4.0 percent.

In May, the number of claimant count decreased 19,700 from April. Economists had forecast claimant count to fall sharply by 49,400.

Payrolled employees in May showed a monthly increase of 90,000 on the revised April 2022, to a record 29.6 million.

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