Britain's unemployment rate fell for another month -- but wage growth disappointed once again

LONDON — Unemployment in the UK fell once again in April, according to the latest data released by the Office for National Statistics on Wednesday.

Headline unemployment fell was 4.6% in the month, dropping from the 4.7% seen for the past handful of months, and below the forecasts of economists. There were 53,000 fewer people unemployed, the ONS said.

“There were 1.54 million unemployed people (people not in work but seeking and available to work), 53,000 fewer than for October to December 2016 and 152,000 fewer than for a year earlier,” the statistical office said.

Headline employment also rose in April, hitting 74.8%, up from 74.6% in previous months. The new employment rate is the highest since comparable records began in 1971, the ONS said.

Here is how April’s unemployment numbers look as part of the 40-year trend:

Since the Brexit vote, various economists and financial institutions have predicted that the UK’s unemployment rate will shoot up as a result of the vote to leave. Credit Suisse, for example, predicts an increase to 6.5% for the base rate, equivalent to roughly 500,000 jobs being lost. However, the last few months have seen the rate remain near its record low and Wednesday’s figures show the trend appears to be holding up.

More follows …

NOW WATCH: WATCH! This week’s episode of The Bottom Line with Henry Blodget

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.