Despite restrictions related to the coronavirus pandemic, the UK unemployment rate dropped unexpectedly in the three months to February as the government continues its job furlough scheme.
The jobless rate fell to 4.9 percent in three months to February, data from the Office for National Statistics showed on Tuesday. Economists had forecast the rate to rise to 5.1 percent from 5 percent in three months to January.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.