The UK jobless rate declined to the lowest since 1974 in the first quarter amid record job vacancies that reflect the tightening labor market conditions despite the slowdown in the economy, data published by the Office for National Statistics showed on Tuesday.
The unemployment rate declined 0.3 percentage points sequentially to 3.7 percent in three months to March, which was the lowest since December 1974. Moreover, the rate remained below the forecast of 3.8 percent.
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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.