Sharjah24 – AFP: Britain's unemployment rate has fallen further to a near five-decade low, official data showed Tuesday, but the value of wages continues to erode as inflation soars.

The unemployment rate eased to 3.7 percent in the three months to the end of March, the Office for National Statistics (ONS) said in a statement.

That was the lowest level in more than 47 years and compared with a rate of 3.8 percent in the quarter to the end of February.

The ONS added that wages continued to sink in real terms as Britain, like other countries, faces runaway inflation.

Total employment remained below its pre-pandemic level, with job vacancies at a record-high of almost 1.3 million at the end of April.