HomeLive CommentsUK unemployment rate dropped to 43-year low, but wage growth slowed

UK unemployment rate dropped to 43-year low, but wage growth slowed

Sterling recovers mildly after mixed job data, but upside is limited so far.

Unemployment rate dropped to 4.0% in the 3 months to June, down from 4.2% and beat expectation of 4.2%. That’s also the lowest level in 43 years since the quarter to February 1972.

However, average weekly earnings including bonus slowed to 2.4% 3moy, down from 2.5% and missed expectation of 2.5%.

Average weekly earnings excluding bonus also slowed to 2.7%, down from 2.8% even though it beat expectation of 2.6%.

In July, claimant counts rose 6.2k, above expectation of 3.8k.

Full release here.

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