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Financial News: UK Jobless Rate Lowest Since 1975

UK Jobless Rate Lowest Since 1975

05/15/2018 - 04:57:00 (RTTNews)

(RTTNews) - The UK unemployment rate remained unchanged at the lowest level since 1975, the Office for National Statistics showed Tuesday.

The ILO jobless rate remained at 4.2 percent in the first quarter, but down from 4.6 percent a year ago. This was the joint lowest since 1975.

There were 1.42 million unemployed in the first quarter, which was 46,000 fewer than for October to December period.

At the same time, the employment rate was 75.6 percent, the highest since comparable records began in 1971.

Average earnings of employees including bonuses grew 2.6 percent from last year, while earnings excluding bonuses advanced 2.9 percent in three months to March.

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