Economic Buzz: UK Unemployment Rate Drops To 3.9%

15 Mar 2022 , 02:50 PM

UK labor market continued to recover in three months to January with a quarterly rise in the employment rate and a fall in the unemployment rate, the Office for National Statistics said on Tuesday. The ILO jobless rate dropped 0.2 percentage points on the quarter to 3.9 percent, which was also below the expected rate of 4.0 percent. At the same time, the employment rate increased 0.1 percentage points to 75.6 percent. In three months to January, average earnings including bonuses grew 4.8 percent from the previous year versus the forecast of 4.6 percent. Excluding bonuses, growth in average earnings was 3.8 percent, also faster than the expected 3.7 percent.

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