UK jobless rate falls again as employers hire ahead of Brexit
Employment and wage growth slows
London — Britain’s unemployment rate fell to its lowest since the mid-1970s in early 2019 as employers hired in the run-up to the original date for Britain’s EU departure, but there were signs that Brexit was beginning to weigh on the jobs boom. The rate edged down to 3.8% in the first quarter, its lowest since the three months to January 1975, the UK office for national statistics said on Tuesday. Unemployment dropped by 65,000, the most in more than two years. But employment growth slowed to 99,000, well below a median forecast of 135,000 in a Reuters poll of economists, and wage growth lost momentum too. “It is possible to see the shadow of Brexit in some of these figures,” Mike Jakeman, an economist at accountancy firm PwC, said. “March was the month when Brexit anxiety was at its most acute and it might have been the case that firms were more reticent to offer higher wages and advertise new positions,” he said. The numbers could just as easily be a minor blip in the recent run...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.