The UK unemployment rate dropped in the second quarter as employers hired more staff after the economy emerged from the Covid lockdown, lifting job vacancies to a record high and driving pay growth higher.
The unemployment rate dropped 0.2 percentage points to 4.7 percent in the second quarter, the Office for National Statistics reported Tuesday. The rate was expected to remain unchanged at 4.8 percent.
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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.