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U.K. jobless claims fall by 25,100; Unemployment rate dips to 6.8%

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Investing.com -

Investing.com - The number of people claiming unemployment benefits in the U.K. declined less-than-expected in April, while the country's jobless rate fell in line with forecasts, official data showed on Wednesday.

In a report, the U.K. Office for National Statistics said that the claimant count fell by a seasonally adjusted 25,100 last month, compared to expectations for a decline of 30,000 people. March's figure was revised to a drop of 30,600 people from a previously reported decline of 30,400.

The report also showed that the rate of unemployment declined to 6.8% in the three months to March from 6.9% in the three months to February, in line with expectations.

The Bank of England previously announced plans to keep interest rates on hold at record lows as long as the U.K. unemployment rate remains above 7%.

Meanwhile, the average earnings index rose by a seasonally adjusted 1.7% in the three months to March, compared to expectations for a 2.1% increase, after rising by 1.7% in the three months to February.

Following the release of the data, the pound trimmed gains against the U.S. dollar, with GBP/USD rising 0.02% to trade at 1.6829, compared to 1.6868 ahead of the data.

Meanwhile, European stock markets remained mixed. London's FTSE 100 shed 0.15%, the Euro Stoxx 50 inched down 0.2%, France's CAC 40 dipped 0.15%, while Germany's DAX added 0.1%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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