LONDON - Britain’s unemployment rate fell to its lowest since the mid-1970s in early 2019 as employers hired in the run-up to the original date for Britain’s EU departure, but there were signs that Brexit was beginning to weigh on the jobs boom.
But employment growth slowed to 99,000, well below a median forecast of 135,000 in a Reuters poll of economists, and wage growth lost momentum too. Britain’s labour market has remained resilient as Brexit has neared, helping households whose spending has driven an otherwise fragile economy. The ONS said that in January-March, total earnings including bonuses rose by an annual 3.2%, slowing from 3.5% in the three months to February and weaker than a Reuters poll forecast of 3.4%.The BoE this month said it expected wage growth of 3% at the end of this year.
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