The UK unemployment rate rose slightly and payroll employment declined for the first time in more than two years as the economic slowdown started to bite the labor market.
The jobless rate rose to 3.9 percent in the three months to March from 3.8 percent in the preceding month, data published by the Office for National Statistics showed on Tuesday.
This was in contrast to economists' forecast of the rate stagnating at 3.8 percent.
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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.