United Kingdom: Unemployment continues to fall, hits five-year low
June 11, 2014
In May, jobless claims fell 27,400 over the previous month, according to the Office for National Statistics (ONS). The print was slightly up from the revised 28,400 drop recorded in April (previously reported: -25,100), but exceeded the 25,000 decrease in jobless claims the markets had expected.
The unemployment rate—derived from a different survey—fell to 6.6% in the three months up to April, which was down from the 6.8% tallied in the three months up to March. The figure was a tad below market expectations of the rate falling to 6.7% and marked the lowest unemployment rate since January 2009.