P.M. BRIEFING : British Job Rate Best in 9 Years
Unemployment in Britain dropped in May to its lowest level in nearly nine years and wage settlements in April outpaced the rate of inflation, the government reported today.
The seasonally adjusted jobless rate, regarded as the best indication of the underlying trend, fell by 22,800 to just over 1.8 million, or 6.4% of the work force.
It was the 34th consecutive monthly fall. The number of unemployed is now at its lowest since December, 1980.
The wage data showed average earnings in April were rising by 9.25% a year, well ahead of the annual inflation rate of 8% reported for the month. The overall rate of inflation is expected to reach 8.3% when the May figure is announced Friday.
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