Investing.com - The jobless rate in the U.K. unexpectedly fell from an already decade-low in April, while average earnings rose more than expected, official data showed on Wednesday.
The Office for National Statistics said that the rate of unemployment fell to 5.0% in the three months to April, beating expectations for it to remain stable at 5.1%.
The claimant count fell by a seasonally adjusted 400 in May, compared to expectations for a drop of 100 people, and following an advance of 6,400 a month earlier, whose figure was revised from a previously reported decrease of 2,400.
Meanwhile, the average earnings index, including bonuses, rose by a seasonally adjusted 2.0% in the three months to April, above forecasts for a 1.7% increase and after advancing by 2.0% in the three months to March.
Excluding bonuses, wages rose by 2.3%, above forecasts for a 2.1% increase and following a 2.2% increase in the three months to March whose figured was revised from an initial increase of 2.1%.
Following the report, the pound strengthened. GBP/USD traded at 1.4206 from around 1.4178 ahead of the release of the data, while EUR/GBP was at 0.7893 from 0.7912 earlier.
Meanwhile, European stock markets were broadly higher. London's FTSE 100 rose 0.85%, the EURO STOXX 50 traded up 1.34%, France's CAC 40 advanced 1.22%, while Germany's DAX rallied 0.69%.
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