U.K. Jobless Claims Unexpectedly Rise as Euro Crisis Bites
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U.K. unemployment claims unexpectedly rose in May, suggesting the labor market may be starting to succumb to Europe’s intensifying debt crisis.
Jobless-benefit claims climbed 8,100 from April to 1.6 million, the Office for National Statistics said today in London. The median forecast of 20 economists in a Bloomberg News survey was for a drop of 4,000. The unemployment rate as measured by International Labour Organization methods was unchanged at 8.2 percent in the three months though April.