The UK unemployment rate reached a near five-year high and wage growth softened in the fourth quarter, strengthening the case for the Bank of England to cut interest rates in March.
The unemployment rate rose to 5.2 percent in the three months to December from 5.1 percent in the preceding period, the Office for National Statistics reported Tuesday. The rate hit the highest since early 2021 and also matched expectations.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.