UK unemployment falls to lowest since 1974

Britain's unemployment rate fell to its lowest since 1974 at 3.7% in the first three months of this year, official figures showed on Tuesday, below economists' forecasts for it to hold steady at 3.8%.

Average earnings, excluding bonuses, were 4.2% higher than a year earlier in the three months to March, above the average forecast in a Reuters poll for wage growth to hold at 4.1%.

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