The UK unemployment rate dropped unexpectedly in the three months to January, thanks to the extended furlough scheme, data from the Office for National Statistics revealed on Tuesday.
Moreover, there was small increase in the number of payroll employees in three months to February.
The unemployment rate came in at 5.0 percent in three months to January, below economists' forecast of 5.2 percent and 5.1 percent seen in three months to December. However, the rate was 1.1 percentage points higher than a year earlier.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.