The UK’s unemployment rate has dropped to the lowest level in 48 years, but experts say it could well be “the calm before the storm” and the economy may face a “much bumpier ride” ahead.
According to the latest data from the Office for National Statistics (ONS), the rate of unemployment dropped to 3.7 percent in the three months to March, the lowest since October to December 1974.
At the same time, job vacancies reached another record high, and “there were actually fewer unemployed people than job vacancies for the first time since records began,” said ONS director of economic statistics Darren Morgan.
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