UK jobless rate lowest since 2019, but inflation eats into pay

LONDON: Britons’ earnings shrank by the most since 2013 in February when adjusted for surging inflation, despite unemployment falling to its joint lowest in almost 50 years, highlighting the challenges facing the Bank of England (BoE).

The jobless rate sank to 3.8% in the three months to February from 3.9% before, official figures showed, matching a rate last seen in late 2019 and one that has not been lower since 1974.

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