UK jobless rate holds at 44-year low

February 19, 2019 (MLN): Britain's unemployment rate is at a 44-year low, official data showed Tuesday, despite weakening economic growth blamed on a global slowdown and Brexit clouds.

The jobless rate stood at 4.0 percent in the three months to December, the lowest level since 1975, the Office for National Statistics said.

That was the same as the three months to November, the ONS added in a statement, while expectations had also been for no change.

The total number of unemployed people slid by 14,000 to 1.36 million in the year to December, which was 100,000 lower than a year ago.

"Despite the slowing growth, the labour market in the UK boomed," the ONS said, noting also the nation's record high employment.

However the bright labour market news came on the same day that Japanese car maker Honda said it would shut its UK car plant in 2021, with the loss of 3,500 jobs.

The ONS added that UK wages has continued to outstrip British inflation.

Average earnings including bonuses grew by 3.4 percent in the three months to December from a year earlier, boosting the purchase power of workers' salaries.

(APP)