Economic Buzz: UK unemployment down to 4.9% in April

The rate of unemployment in the United Kingdom stood at 4.9% in the three months to April, down 0.3 percentage points from the previous quarter but up 0.3 percentage points from a year ago, the Office for National Statistics revealed in its report on Thursday.

The employment rate was estimated at 75%, unchanged from the previous three-month period. Meanwhile, the number of job vacancies in the March-to-May period fell by 19,000 to 707,000. Average weekly earnings (AWE) were estimated at ?753 for total earnings and ?697 for regular earnings in April.

Average regular pay adjusted for price inflation rose 0.1% in the quarter to April on a yearly basis, while earnings in nominal terms jumped by 3.4%. Including bonuses, average pay adjusted for inflation increased by 1.2%, while nominal average weekly earnings climbed by 4.4%.

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