U.K. Wages Post First Drop Since 2009 as Jobless Rate Falls
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U.K. unemployment fell further in the second quarter and wages declined for the first time since 2009 as the economy continued to create jobs without generating inflationary pressures.
The jobless rate fell to 6.4 percent, the lowest since the fourth quarter of 2008, from 6.5 percent in the three months through May, the Office for National Statistics said in London today. The result matched the median forecast in a Bloomberg survey. Wages dropped 0.2 percent from a year earlier, the first quarterly decline for the more than five years.