Official figures show that average earnings in the U.K. increased in the three months to April while unemployment remained at its lowest level since the end of 1974.
The Office for National Statistics said Tuesday that average weekly earnings excluding bonuses were up 3.4% in the three months to April compared with the year before. That’s up from the 3.3 percent recorded in March and points to building inflation pressures in the economy.
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Elsewhere, the statistics agency said the 3.8% unemployment rate is the lowest since December 1974 after another 34,000 people came off the jobless register, taking the total out of work at 1.3 million. The employment rate of 76.1% was also the joint-highest since records began in 1971.
