• Prior -46.9k
  • March ILO unemployment rate 3.7% vs 3.8% expected
  • Prior 3.8%
  • March employment change 83k vs 5k expected
  • Prior 10k
  • March average weekly earnings +7.0% vs +5.4% 3m/y expected
  • Prior +5.4%
  • March average weekly earnings (ex bonus) +4.2% vs +4.1% 3m/y expected
  • Prior +4.0%

The UK employment rate increased by 0.1% to 75.7% but continues to sit below pre-pandemic levels still for the time being. The number of payrolled employees increased by 121,000 to a record 29.5 million. Meanwhile, the jobless rate drops further and for the first time ever, there are fewer unemployed people than job vacancies in the UK as the latter grows to a record 1,295,000 in the three months from February to April.

UK labour