Despite government support measures, the UK unemployment increased in the three months to October and redundancies reached a record high as the coronavirus pandemic weighed on the labor market.
The unemployment rate rose to 4.9 percent in three months to October, the Office for National Statistics reported Tuesday. Economists had forecast the rate to climb to 5.1 percent from 4.8 percent registered in three months to September.
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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.