UK unemployment rate dropped to 4.7% in the three months to April, down from 4.8%, matched expectations. That’s still 0.8% higher than the level before the pandemic Nevertheless, it’s -0.3% lower than the previous quarter. Average earnings excluding bonus rose 5.6% 3moy, above expectation of 5.3% 3moy. Average earnings including bonus rose 5.6% yoy, above expectation of 4.9% 3moy. Claimant count dropped -92.6k in May.
