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UK jobless rate falls in Q1

Staff Writer |
The UK unemployment rate dropped in the first quarter, data from the Office for National Statistics showed Wednesday.

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The ILO jobless rate came in at 4.6% in three months to March, the lowest since 1975. The rate dropped from 5.1% in the prior year and 4.8% in the fourth quarter of 2016.

The number of unemployed decreased by 53,000 from prior quarter to 1.54 million in three months to March.

At the same time, the employment rate was 74.8% in the first quarter, the highest since comparable records began in 1971.

Average earnings including bonus advanced 2.4% annually, in line with expectations. Excluding bonus, earnings grew 2.1%.

In April, the number of people claiming unemployment benefits increased by 19,400 from prior month.

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