Record 32.7 million people in work as jobless rate falls to 3.9%
Record numbers of people are in work, while the UK’s jobless rate has fallen below 4% for the first time since 1975, new figures show.
Average earnings increased by 3.4% in the year to January, down by 0.1% on the previous month but still outpacing inflation.
For November 2018 to January 2019, 76.1% of people aged 16 to 64 were in paid work – the highest employment rate on record https://t.co/VKWqXJbeTdpic.twitter.com/txsKHdXezi
— ONS (@ONS) March 19, 2019
Employment increased by 222,000 in the quarter to January to 32.7 million, the highest since records began in 1971, reported the Office for National Statistics (ONS).
Unemployment fell by 35,000 to 1.34 million, 112,000 lower than a year ago, giving a jobless rate of 3.9%, well below the EU average of 6.5%.
While employment has reached a new record high, earnings of employees are still lower than before the 2008-09 recession, after taking inflation into account https://t.co/hkGThzdH40pic.twitter.com/XYs9y5pXVn
— ONS (@ONS) March 19, 2019
The number of economically inactive people fell by 117,000 in the latest three months to 8.55 million, a rate of just under 21%, the lowest on record.
Meanwhile, the number of job vacancies in the economy increased by 4,000 to 854,000.
In November 2018 to January 2019, the overall unemployment rate was 3.9% – the first time lower than 4%it’s not been lower since Winter the same period in 1974-75 https://t.co/mdKob1owPIpic.twitter.com/TPPdPtI1Q2
— ONS (@ONS) March 19, 2019
ONS senior statistician Matt Hughes said: “The employment rate has reached a new record high, while the proportion of people who are neither working nor looking for a job – the so-called ‘economic inactivity rate’– is at a new record low.
“The unemployment rate has also fallen below 4% for the first time since early 1975.”