U.K. Unemployment Rate Declines to 5.3%, Wage Growth Softens
- Annual earnings growth ex-bonus slows to 2.5% in quarter
- ONS says data continue strengthening of labor market
Will U.K. Unemployment Force BOE's Hand on Rates?
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U.K. unemployment fell to the lowest in more than seven years in the third quarter and the number in work rose to a record, extending an improvement in the labor market that the Bank of England expects to continue.
The rate fell to 5.3 percent, the lowest since the spring of 2008, the Office for National Statistics said Wednesday in London. Economists in a Bloomberg News survey forecast that it would be unchanged at 5.4 percent. Employment jumped 177,000 to 31.2 million.