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UK unemployment rate falls to 40-year low

Staff Writer |
The UK unemployment rate has shrunk to the lowest since 1975, it was confirmed on Wednesday, with wage growth stabilising somewhat.

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UK unemployment fell to a 42-year low of 4.5% for the three months to May, down from the 4.6% the month before, where it was expected to remain.

Weekly average earnings excluding bonuses for the three-month period rose to 2.0% from 1.8% a month before, better than the consensus estimate of 1.9%.

Total average wage growth including bonuses softened to 1.8% from 2.1%, though this was expected.


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