Investing.com – The number of people in the United Kingdom claiming unemployment benefits fell more than expected in May, resulting in a 0.1% decrease in the unemployment rate in the quarter ending in May, official data showed on Wednesday.
In a report, the U.K. Office for National Statistics said the number of people claiming unemployment benefits fell by a seasonally adjusted 20.8K in May, after falling 30.9K in April.
Analysts had expected a decrease of 20.1K in May.
As a result of the decrease the unemployment rate for the 3 months to May fell to 7.8%, after advancing to 7.9% in the preceding quarter.
Analysts had expected an unemployment rate of 7.9% in the quarter to May.
The earnings annual growth rate for total pay (including bonuses) was 4.2% for the three months to April 2010, down from 4.3% for the three months to March.
Following the release of the data the pound was up against the U.S. dollar, with GBP/USD gaining 0.49% to hit 1.5252.
In a report, the U.K. Office for National Statistics said the number of people claiming unemployment benefits fell by a seasonally adjusted 20.8K in May, after falling 30.9K in April.
Analysts had expected a decrease of 20.1K in May.
As a result of the decrease the unemployment rate for the 3 months to May fell to 7.8%, after advancing to 7.9% in the preceding quarter.
Analysts had expected an unemployment rate of 7.9% in the quarter to May.
The earnings annual growth rate for total pay (including bonuses) was 4.2% for the three months to April 2010, down from 4.3% for the three months to March.
Following the release of the data the pound was up against the U.S. dollar, with GBP/USD gaining 0.49% to hit 1.5252.