UK unemployment falls to 5.0%

The UK unemployment has fallen during a period between February and April to the lowest level for the last five years. This shows that the employment market is strong, despite uncertainty over a forthcoming referendum scheduled for the next week.

The ONS released on Wednesday a report that fixes a fall of unemployment between February and April by 0.1% to 5.0%. The unemployment fell by 5.0% versus the previous year. It is the minimum level since October 2005.

At that time, it was fixed a growth of wages. Wages grew by 2.3% during this period versus the previous three months. However, a growth of wags slowed down versus a growth by 2.6% in the previous year. The ONS thinks that the growth in this period was based on a growth of a minimal wage.

The last polls showed some weakening of economic growth on the background of expectations the results of the referendum. At that time, the labour market shows that the economy is stable.