Wednesday, May 16, 2007

U.K. Unemployment Falls to Lowest Since 2005; Earnings Climb 4.5 Percent

(Bloomberg) -- U.K. unemployment fell to the lowest since October 2005 last month as the pace of economic growth prompted companies to step up hiring.

Jobless claims declined 15,700 to 890,000, the Office for National Statistics in London said. Economists expected a drop of 5,700, according to the median of 32 forecasts in a Bloomberg News survey. Earnings including bonuses rose 4.5 percent in the first quarter, down from 4.6 percent in the three months through February.


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