UK jobs: Jobless rate drops in May, earnings pick-up

The Office for National Statistics noted on Wednesday, the UK’s official jobless rate dropped to 4.9% versus 5.0% last, with the hiring process unaffected by the Brexit concerns.

The number of people claiming jobless benefits ticked lower from 12,200 to 400 in May. The claimant count rate stayed at 2.2%, same as that seen in April.

Wage growth, excluding bonuses surprisingly decelerated slightly to 2.2% from the 2.3% booked previously, while the gauge including bonuses jumped to 2.3% from 2.0% last.