–Apr claimant count unemployment -27,100; rate 4.7%
–Jan-Mar ILO unemployment +53,000 q/q; rate 8%
–Mar total weekly earnings +4% 3m y/y vs +2.5% in Feb
–Mar regular weekly earnings +1.9% 3m y/y vs +1.7% in Feb

LONDON (MNI) – Claimant count unemployment posted a further sharp
decline in March, while earnings growth hit the highest level for two
years, figures released by National Statistics showed Wednesday.

Claimant count unemployment fell 27,100 on the month in April, a
larger decline than the median forecast for a drop of 20,000. The
claimant count rate fell to 4.7% from 4.8% the lowest since May last
year.

The claimant count figures, which measure the number of people out
of work and claiming Job Seekers Allowance, are the most up to date
measure of unemployment across the UK.

While the claimant count posted a fall, the less timely official
measure of jobless, ILO unemployment, posted a sharp rise in the latest
period.

ILO unemployment was up 53,000 in the thee months to March 2010,
the highest rise since the three months to August 2009. Normally, ILO
unemployment tends to follow the claimant count although National
Statistics did note a larger than normal divergence between the two
series in the latest period. Much of this divergence was seen in the
changes in those people who have been unemployed for more than 12
months.

There were clear signs, however, that the labour market is
normalising following the impact of the financial crisis seen during the
past few years.

Average weekly earnings for total pay jumped to 4% in the three
months to March, up from 2.5% in February, the highest since June 2008.
Growth in manufacturing earnings hit 6.1% the largest since records
began in 2001, while distribution, hotels and catering growth rose to
4.8%.

The jump in average weekly earnings was mainly due to increased
bonus payments this year compared with a low level in 2009. National
Statistics said that while bonus payments had increased sharply they
were still below pre-crisis levels in 2007/08.

Weekly earnings for regular pay which exclude bonuses rose to 1.9%
in the three months to March from 1.7% previously.

–London bureau: 00 44 207 634 1655; email: drobinson@marketnews.com

[TOPICS: MT$$$$,M$B$$$,MABDS$]