British jobless data
LONDON: Britain’s unemployment rate has fallen to its lowest level in a decade, official data showed on Wednesday, but the government warned of headwinds from weak growth at home and abroad. Unemployment dropped to 5.1 per cent in the three months to November — the lowest rate since October 2005 — the Office for National Statistics (ONS) said in a statement. It had stood at 5.2 per cent in October 2015. The jobless total was 1.68 million people — 239,000 fewer than in the same period a year earlier. The ONS added that average weekly wages, including bonuses, rose by two per cent from a year earlier, outpacing inflation which languished close to zero. Bank of England (BoE) Governor Mark Carney on Tuesday said it was still too early to lift Britain’s record-low interest rate, citing weak global growth and low inflation. The BoE has left borrowing costs at an all-time low of 0.50 per cent since March 2009 as it seeks to stimulate economic growth in Britain.