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Financial News: UK Jobless Rate Joint Lowest Since 1975, Employment

UK Jobless Rate Joint Lowest Since 1975, Employment Rate At Record

03/21/2018 - 06:11:00 (RTTNews)

(RTTNews) - The UK jobless rate in the three months to January was the joint lowest since 1975 and the employment rate rose to a record high, latest figures from the Office for National Statistics showed Wednesday.

The ILO unemployment rate eased to 4.3 percent from 4.4 percent in the three months to December. Economists had expected it remain unchanged at 4.4 percent. The rate was 4.3 percent in the August to October 2017 period.

The employment rate was 75.3 percent in the November to January period, the joint highest since comparable records began in 1971. A year ago, the rate was 74.6 percent. In the September to November 2017 period, the rate was 75.3 percent.

The average weekly earnings including bonus increased 2.8 percent year-on-year in the three months to January, which was higher than the 2.7 percent in the October to December period. Economists had expected 2.6 percent.

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