The UK unemployment rate increased notably in the third quarter and redundancies reached a record high as firms reduced staffing after the government scaled back the furlough scheme, which was extended this month till March-end next year.
Data from the Office for National Statistics showed that the ILO jobless rate rose by 0.7 percentage points from the previous quarter to 4.8 percent in the three months to September. This was the highest since November 2016 and came in line with expectations.
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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.