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Financial News: UK Jobless Rate At Record Low

UK Jobless Rate At Record Low

04/17/2018 - 05:30:00 (RTTNews)

(RTTNews) - The UK unemployment rate declined in three months to February and earnings of employees increased, data from the Office for National Statistics showed Tuesday.

The ILO jobless rate came in at 4.2 percent in three months to February, which was below the 4.3 percent logged in three months to January. This was the lowest rate since comparable data began in 1971.

At the same time, the employment rate was 75.4 percent, the highest since 1971.

The number of unemployed decreased by 136,000 annually to 1.42 million and employment increased by 427,000 to 32.26 million.

Average weekly earnings in nominal terms increased by 2.8 percent, both excluding and including bonuses, compared with a year earlier.

The claimant count remained unchanged at 2.4 percent in March. The number of people claiming jobseekers' allowances increased by 11,600 from February.

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