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A man walks past job offers in the showcase of a central London recruiting office on February 19, 2014. REUTERS / Neil Hall / File Photo
LONDON (Reuters) – British employers have accelerated their hiring in the last three months of January, more than three years earlier, as the country's labor market withdrew from the more general weakness of the economy. Brexit approach.
Official figures show that the number of people in employment has increased by 222,000, helping to bring the unemployment rate down to 3.9%, its lowest level since the beginning of 1975.
A survey conducted by economists at Reuters revealed an increase in employment of 120,000 people.
As Britain's exit conditions from the European Union are still unclear, many companies have reduced their long-term investment in equipment, making them potentially more likely to hire workers who can be made redundant if economy weakens.
The strength of the labor market is driving wages up faster.
Total revenue, including premiums, rose 3.4% a year in January, the Office for National Statistics announced, exceeding the median forecast of 3.2% announced by the Reuters poll.
Wage growth for the three months ending December was revised upward to 3.5%, its highest level since mid-2008.
Average weekly earnings, excluding bonuses, also increased 3.4% year-on-year, according to the Reuters survey.
Written by William Schomberg
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