/ 18 December 2002

British unemployment falls to 27-year low

British unemployment fell to 934,200 in November when 6 200 people signed off the benefits register, leaving the jobless rate steady at 3,1%, official figures showed on Wednesday.

The latest decline left the jobless total at its lowest level since 1975, the National Statistics office said. But the International Labour Organisation’s measure of

unemployment rose by 19 000 in the three months to October from the previous quarter to 1,53-million.

The ILO unemployment rate was unchanged at 5,2%. The annual growth rate of headline average earnings fell 0,1 percentage points to 3,7% in the October quarter, below the level of 4,5% that sets alarm bells ringing at the Bank of England.

Analysts had expected no change in the jobless total in November. – Sapa-AFP