The Office for National Statistics (ONS) released its labour market data on Wednesday. The U.K. unemployment rate fell to 5.5% in the January to March quarter from 5.7% in the October to December quarter, in line with expectations.

It was the lowest level since 2008.

The claimant count decreased by 12,600 people in April, missing expectations for a drop by 20,000, after a decrease of 16,700 people in March. It was the smallest monthly decline since March 2013.

March's figure was revised down from a decline of 20,700.

Average weekly earnings, excluding bonuses, climbed by 2.2% in the January to March quarter, exceeding expectations for a rise by 2.1%, after a 1.9% gain in the October to December quarter.

Average weekly earnings, including bonuses, rose by 1.9% in the January to March quarter, exceeding expectations for a gain of 1.7%, after a 1.7% increase in the October to December quarter.