U.K Unemployment Rate Stable At 3.8%

The UK unemployment rate remained stable in April at the lowest since 1974 and employment hit a record, data from the Office for National Statistics showed Tuesday.

In three months to April, the ILO jobless rate came in at 3.8 percent, the lowest since end 1974. The rate came in line with expectations.

At 76.1 percent, the employment rate was the joint-highest on record. The number of people in employment increased 32,000 to a record high of 32.75 million.

Average earnings, including bonuses, grew 3.1 percent year-on-year in three months to April, slightly faster than the expected 3 percent. Excluding bonuses, weekly earnings advanced 3.4 percent versus expected growth of 3.1 percent.

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