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    Home » UK Unemployment Edges Down to 3.8% in February as Labour Market Demand Cools
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    UK Unemployment Edges Down to 3.8% in February as Labour Market Demand Cools

    April 12, 20221 Min Read
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    UK unemployment remained steady in the three months to February and has even improved from the Covid-19 level.

    • The ILO unemployment rate for the three months to February was 3.8%, 0.2 percentage points lower than the prior three-month period and 0.1 percentage points below pre-Covid levels.
    • The employment rate was unchanged in the quarter as the unemployment rate dropped. Over the same period, the economic inactivity rate has improved slightly.
    • The UK employment rate was largely the same in the quarter at 75.5 but was still below the pre-pandemic levels.
    • The number of job vacancies from January to March 2022 increased to a new record of 1,288,000. Meanwhile, the rate of growth in vacancies continued to slow down.

    The economic inactivity rate rose by 0.2 percentage points to 21.4%. The increase was attributable to people who are economically inactive because they are looking after family, retired, or long-term sick.

    FTSE 100 down -0.71%, GBP USD up +0.10%

    Source: Office for National Statistics

     

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