By Joshua Kirby
The U.K.’s jobless rate fell in the three months to April, reversing previous months’ rises, while pay growth continued to edge up.
The unemployment rate stood at 3.8% in the period, according to data from the Office for National Statistics released Tuesday, slightly below the 3.9% booked in the January-March period and lower than the 4.0% expected by economists polled by The Wall Street Journal.
The rate came down after recent steady rises, having reached a long-time low of 3.5% in August last year.
Average weekly earnings, excluding bonuses, increased 7.2% on year in the three months to April, outstripping the 6.7% the previous month and higher than the 7% expected by economists. This may add to concerns at the Bank of England as it strives to tackle high inflation rates, though wage growth “tentatively seems to have peaked,” analysts at bank ING said in a note ahead of the release.
Vacancies fell by 79,000 in the three-month period to May from a total 1.08 million previously. The lower rate came as economic concerns held back recruitment, the ONS said.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby