UK unemployment stored at lowest degree since 1975, official figures have proven.
The jobless price remained at 3.9 per cent within the three months to the top of February, the Workplace for Nationwide Statistics mentioned on Tuesday.
Wages grew 3.four per cent in the course of the quarter in comparison with a yr earlier. The rise was in step with economists’ expectations, indicating that Brexit has not severely dented the roles market or earnings.
Nevertheless, after adjusting for inflation wages rose a extra modest 1.5 per cent, nonetheless under the long-term pattern price.
The variety of individuals in work hit a report excessive over the quarter because the proportion of ladies in employment continued to develop.
Financial inactivity – which covers individuals who aren’t in work however should not categorized as unemployed as a result of they are not searching for one – fell to 20.7 per cent, its lowest leven since comparable information started in 1971.
ONS deputy head of labour market statistics Matt Hughes mentioned: “The roles market stays strong, with the variety of individuals in work persevering with to develop. The rise over the previous yr is all coming from full-timers, each staff and the self-employed.”
“Earnings have now been rising forward of inflation for over a yr however, in actual phrases, wage ranges haven’t but returned to their pre-downturn peak.”