Britain's unemployment rate fell to its lowest level since the mid-1970s as...
LONDON, May 14 - Britain’s unemployment rate fell to its lowest level since the mid-1970s as a pre-Brexit hiring surge continued, but workers’ pay rose a bit less quickly in the first three months of 2019, official data showed.
The unemployment rate stood at 3.8%, its lowest since early 1975 and down slightly from a previous reading of 3.9%, the Office for National Statistics said on Tuesday.But unemployment fell by 65,000, the data showed. Last month, Britain’s exit from the EU, which was originally scheduled for March 29, was delayed until October.
In the January-March period, total earnings, including bonuses, rose by an annual 3.2%, slowing from 3.5% in the three months to February and weaker than a forecast of 3.4% in the Reuters poll.Britain’s hiring spree is widely seen as a reflection of how companies have opted to take on workers rather than commit to longer-term investments in the face of uncertainty about Brexit.
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