UK unemployment was unchanged in the quarter to May, signaling that the country’s labor market remained tight even as economic growth slowed.
The UK unemployment rate stood at 3.8% in the quarter, unchanged from the previous quarter, according to figures from the statistics office.
Employment continued to rise, with the number of wage earners increasing by 31,000 in June to a total of 29.6 million.
Job vacancies rose again in the April-June period to 1.29 million, but the rate of growth continued to weaken.
“With demand for labor clearly higher, unemployment fell again, employment rose and there was another record low for layoffs,” the statistics office said.
Wage growth remained at a high level. Average weekly earnings in the quarter to May, excluding bonuses, rose 4.3% year-on-year, compared with a 4.2% rise in the previous three months.
Source: Capital
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