Posted by AdviserDirect on 03/20/2019

UK unemployment falls to 44-year low despite Brexit fears

UK unemployment falls to 44-year low despite Brexit fears

UK unemployment has dropped to the lowest level in more than 44 years despite mounting fears over Brexit, as employers across the country ramped up hiring at the fastest rate in more than three years.

The Office for National Statistics said Britain’s jobless rate fell to a fresh low of 3.9% in the three months to January, down from 4% a month earlier, the lowest point since the start of 1975.

Companies increased their hiring activity to add another 222,000 people to the UK workforce, taking the overall number in work to a fresh record high of 32.7 million.

The surprise drop in the jobless rate came despite mounting concern that the chaos over Brexit in Westminster might have encouraged companies to freeze their hiring plans until they have greater clarity over the political situation.

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