Falling UK Unemployment & Rising Wage Growth Signals Labor Market Strength

The surprise decline in the UK unemployment rate and strong growth in average earnings in the three months to April reflect the tightness of the labor market, data from the Office for National Statistics revealed Tuesday. The jobless rate fell to 3.8 percent in the three months to April from 3.9 percent in the preceding period, while it was forecast to rise to 4.0 percent.

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