UK unemployment rate holds at 45-year low

June 1, 2019: British unemployment has held at a 45-year low, official data showed Tuesday, despite headwinds from Brexit and the slowing global economy.

The unemployment rate remained at 3.8 percent in the three months to April — the lowest level since the final quarter of 1974, the Office for National Statistics (ONS) said in a statement.

The reading was unchanged from the rate in the quarter to March, and matched market expectations.

“All in all, there's very little here to suggest any weakness” in the labour market, said analyst David Cheetham at online trading firm XTB.

However he sounded a note of caution about the impact of Brexit and the slowing global economy.

AFP/APP

Posted on: 2019-06-11T15:26:00+05:00

28335