UK Unemployment Falls Below Pre-Pandemic Rate

15 March 2022

Britain's unemployment rate dropped below its pre-pandemic rate in the three months to January.

The jobless rate fell more than expected to 3.9%, despite the Omicron wave of COVID-19, data from the Office for National Statistics (ONS) showed on Tuesday. That was down from 4.1% in the last quarter of 2021 and its lowest level since the three months to January 2020.

Less reliable preliminary payroll figures for February - which are based on tax data that does not include the self-employed - showed a monthly surge of 275,000.

Living standards are likely to see their biggest drop in 30 years this year, according to BoE forecasts that pre-date the latest inflation shock caused by Russia's invasion of Ukraine, which has sent energy and some commodity prices surging.

Source:  Reuters
Post by: Republic of Turkiye Ministry of Trade