The UK unemployment rate remained unchanged in the three months to May and employment increased, signaling that the labor market continues to remain tight, official data revealed Tuesday.
The ILO unemployment rate came in at 3.8 percent in three months to May, unchanged from three months to April but down by 0.1 percentage points on the quarter, the Office for National Statistics said. The rate was forecast to rise to 3.9 percent.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.