UK DATA: May Claimant Count Unemployment +19,600 m/m; Rate 4.6%
–Apr Average Weekly Earnings +1.8% vs +2.4% in Mar
–Apr Average Weekly Earnings ex bonuses +2% vs +2.1% in Mar
–UK Feb-Apr ILO Unemployment -88,000 Q/Q; Rate 7.7%
–UK Apr Claimant Count revised to +16,900 m/m from +12,400
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The official measure of unemployment fell at its
fastest pace for eleven years in the latest three months, but a sharp
rise in the number of unemployed claiming benefits makes judging exactly
what is happening in the labour market difficult.