The U.K. jobless rate rose unexpectedly to a near four-year high and wage growth softened in the three months to May, suggesting that the labor market is cooling.
Data from the Office for National Statistics showed that the unemployment rate edged up to 4.7 percent in the three months to May, marking the highest rate since June 2021. The rate was forecast to remain unchanged at 4.6 percent.
Payroll employment decreased 41,000 in June from the previous month to 30.3 million. The decline in employment for May was revised down sharply to 25,000 from 109,000.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.