UK jobless rate falls to its lowest level in 45 years

By The Associated Press May 14, 2019 at 5:29am

LONDON (AP) — Official figures show that Britain’s unemployment rate has fallen to its lowest level in 45 years, though wage growth softened slightly.

The Office for National Statistics said Tuesday that the jobless rate in the three months to March declined to 3.8%, its lowest level since the end of 1974, from 3.9% the month before.

Separately, it said wage growth excluding bonuses rose by 3.3% down from 3.4% the month before. Despite the modest decline, wages are rising close to their highest rates since the global financial crisis more than a decade ago.

Economists said the figures do little to alter their expectations that the Bank of England won’t be raising interest rates anytime soon especially as Britain’s exit from the European Union remains clouded with uncertainty.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Submit a Correction →

We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:

WJ Wire

The Associated Press

SummaryMore Biographical InformationRecent PostsContact

The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands. Photo credit: @AP on Twitter

@AP

Facebook

The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.

Location

New York City