U.K. Unemployment Falls More Than Forecast as Recovery Gains

From bloomberg.com

U.K. unemployment fell to the lowest in more than five years as the economic recovery gained momentum. The jobless rate as measured by International Labour Organization methods dropped to 6.6 in the three months to April from 6.8 percent in the first quarter, the Office for National Statistics said in London today. The median estimate in a Bloomberg News survey of 34 economists was 6.7 percent. Bank of England officials have pledged to keep the key interest rate at a record-low 0.5 percent until slack in the labor market is used up. Policy makers are divided on the amount of capacity remaining, with some suggesting ... (full story)