UK unemployment figures for February-April released
Unemployment in the UK rose to 4.4 percent in the February-April period. While the unemployment data shows that the labor market continues to cool, wage growth remains sticky.
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The UK Office for National Statistics (ONS) has released data on the labor market covering the February-April period.
Accordingly, unemployment in the country increased on both an annual and quarterly basis, rising to 4.4 percent in the February-April period, while employment fell to 74.3 percent.
In the UK, the annual increase in regular wages for employees, excluding bonuses, was calculated at 6 percent for this period, while the increase in wages including bonuses was 5.9 percent.
While the unemployment data shows that the labor market continues to cool, wage growth remains sticky.
Wage increases are significant for the Bank of England's policy interest rate decisions.