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Dec Unemployment Rate 4.0%; Last Lower 1975.>

UK DATA
UK DATA: Dec Unemployment Rate 4.0%; Last Lower Dec-Feb 1975 
-UK Jan Average Weekly Earnings +3.4% 3m y/y Vs 3.4% In Nov 
-UK Dec Total Real Weekly Earnings +1.3% 3m y/y Vs +1.2% In Nov 
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The February labour market statistics release showed unemployment 
in December at a level last bettered in the mid-1970s and real earnings 
picking up. Unemployment in December held steady at 4.0% with total pay 
in nominal terms in the fourth quarter up 3.4% on a year earlier and up 
1.3% in real terms. The experimental claimant count data pointed to a 
further fall in unemployment ahead. 

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