The rate of unemployment in the United Kingdom stood at 3.7% in the three months to March, according to data released by the Office for National Statistics on Tuesday. The reading marks a 0.3 percentage point decline from the previous quarter.
The employment rate was estimated at 75.7%, up by 0.1 percentage points from the previous three-month period. Meanwhile, there were a record-high 1,295,000 job vacancies in the February-to-April period.
Average regular pay adjusted for price inflation fell by 1.2% on a yearly basis, while earnings in nominal terms increased by 4.2%. Including bonuses, average pay adjusted for inflation increased 1.4%, while nominal average weekly earnings climbed by 7%.
