2020.06.1606:46:00UTC+00UK Unemployment Rate Unchanged, Earnings Growth Slows Sharply

The UK jobless rate was unchanged from the previous quarter, while earnings growth slowed sharply in the three months to April, when the economy entered a lockdown for a large part to slow the spread of the coronavirus, or Covid-19, preliminary data from the Office for National Statistics showed on Tuesday. The unemployment rate was 3.9 percent in the three months to April, which was unchanged from the previous quarter. A year ago, the unemployment rate was 3.8 percent. The jobless rate remained unchanged defying economists' expectations for a jump to 4.7 percent. The employment grew by 6,000 persons, in contrast to expectations for a massive 83,000 fall. The annual growth in average earnings including bonus slowed sharply to 1 percent from 2.3 percent in the January to March quarter. That was worse than the 1.4 percent economists had forecast. Annual growth in average earnings excluding bonus eased to 1.7 percent from 2.7 percent. Economists had expected a slightly better figure of 1.9 percent.