Jobless rate in UK reaches 40-year low of 2.3%

UK jobless-benefit claims fell to the lowest level in four decades and pay growth accelerated in an electoral boost for prime minister David Cameron.

According to the last labour market report before the May 7 general election, the claimant count fell for a 29th month in March to 772,400, the lowest since 1975, the Office for National Statistics in London said yesterday.

A wider measure of unemployment declined to the least since 2008 in the three months through February and basic pay growth accelerated to 1.8%.