UK unemployment rate was unchanged 3.9% in the three months to April, much better than expectation of a surge to 4.5%. Average earnings including bonus rose 3.0% 3moy, sharply lower from April’s 2.3%, missed expectation of 1.3%. Average earnings excluding bonus rose 1.7% 3moy, down from 2.7%, missed expectation of 1.8%.
In May, claimant counts rose 528.9k, larger than expectation of 370k. April’s claimant count increase was revised to 1032.7k. Combined, The total 2801.7k claimant account as recorded in May was as 125.9% increase since March, i.e., the start of the coronavirus pandemic.
