Unemployment in the UK remained at the minimum level since 1975

unemployment in the U.K. in the fourth quarter of 2019 remained at the lowest level since the beginning of 1975, despite the slowdown in economic growth and political risks associated with Brexit.

the Number of working Britons in October-December increased by 180 thousand to 32,934 million, according to data of the National statistical office (ONS).

meanwhile, the number of unemployed fell by 16 thousand to 1.29 million people. The unemployment rate remained at 3.8 percent.

the Number of jobs in November-January has increased to 810 thousand, peaking from July to September 2019.

the Growth of employment in the UK may ease the fears of the Bank of England on the situation in the labour market. At a meeting in late January, the Central Bank kept its benchmark interest rate at 0.75% per annum.

a Decisive victory of the Conservative party of Prime Minister Boris Johnson in the elections of 12 December supported business and consumer sentiment in the country. However, there remains uncertainty as to the future relations of great Britain and the European Union, after the transitional period after Brexit.

wage Growth in the UK slowed at the end of last year.

earnings, including bonuses in October-December increased by 2.9% yoy, the weakest rate since June-August of 2018.

the average wage Growth excluding bonuses slowed to 3.2% and was the weakest since the third quarter of 2018.