Unemployment Drops in UK

It seems that more and more people are getting on to work in UK. The reason is that in last three months to April, the number of unemployed people has gone down by 15,000 to 1.68 million.

Not only this but the number claiming jobseeker’s allowance has also gone down by 9,300 to 880,400 in May. The increase in the number of employed people has also increased the average earnings by 4% on an annual basis - below forecasts - in the three months to April, down from 4.4% in the January to March period.

Earnings growth for the period was the slowest since December because Christmas bonuses were not included in the period.

The basic elementary earnings growth, excluding bonuses has remained constant at 3.6%.

Global Insight analyst Howard Archer said:

These are very encouraging figures for the Bank of England, indicating that wage growth is still one inflationary dog that isn’t biting.

Analysts had earlier expected earnings growth to be about 4.5%.

Source:BBC Posted by: Fineblog    Source