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UK unemployment lowest since 1975

UK unemployment lowest since 1975

19.03.2008

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The number of unemployed Britons fell for the 17th month in a row to its lowest in more than 30 years in February thanks to last year's thriving economy.

Figures from the Office for National Statistics had jobless claims down 2,800 from January at 793,500, the lowest since June 1975, although analysts had been hoping for a fall of 5,000.

The number of unemployed fell 32,000 to 1.61 million in the three months to the end of January, while the jobless rate remained at 2.5%, as predicted by experts.

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Meanwhile, employment rose 166,000 to 29.5 million in the three month period, the biggest figure since records began back in 1971.

The statistics office also revealed that average earnings increased at an annual rate of 3.7%, less than the 3.8% reported in December. Analysts expected no change.

The ONS put the easing down to lower growth in bonuses than the same time last year.



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FTSE 100 - 06 Jul 08