The UK labor market tightened further as unemployment declined in three months to February, average pay increased and job vacancies rose to a record high, official data revealed on Tuesday.
The jobless rate fell 0.2 percent points from the previous quarter to 3.8 percent in three months to February, the Office for National Statistics said. The rate came in line with expectations.
Moreover, the unemployment rate was 0.1 percentage points below pre-coronavirus pandemic levels.
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Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.