UK Unemployment rate Falls in the first quarter
Data showed today that the unemployment rate in the United Kingdom fell to 4.8% in the first quarter of this year, and analysts had expected that the unemployment rate in Britain would reach 4.9% in the first quarter.
The Bank of England cut its unemployment forecast by 5.4% in the third quarter after Finance Minister Rishi Sunak extended his job protection program, which has cost more than 60 billion pounds so far, until the end of September.
The data also showed that the main measure of wage growth in Britain including bonuses rose by 4.0% in the three months to March versus 4.5% in the three months to February due to lower bonuses than a year ago.