UK unemployment rate falls to 42-year low

July 12, 2017 15:12 PM Associated Press

LONDON, July 12:  Official figures show that unemployment in Britain has fallen once again as the labor market shows resilience to a slowdown in the wider economy.

The Office for National Statistics said Wednesday that the country's unemployment rate between March and May fell to 4.5 percent, down 0.2 percentage point from the previous three-month period. The rate is now at its lowest level since 1975. Overall, the agency said the number of people out of work declined by 64,000 during the quarter.

The employment rate, the proportion of people aged from 16 to 64 who were in work, was 74.9 percent, the highest since comparable records began in 1971.

The positive labor market news contrasts with other figures showing the economy slowing down.

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