The unemployment rate fell to 3.8% in the three months to February, down from the previous reading of 3.9% and below its 4% level in early 2020, shortly before Covid-19 cases first swept Europe.However, there were some signs of a slowing in demand for staff.
Employment rose by a weaker than expected 10,000 in the three months from December to February - economists polled by Reuters had forecast a 50,000 rise - while unemployment fell by 86,000, the ONS said. Earnings excluding bonuses rose by 4% in the three months to February compared with the same period a year earlier, a stronger increase than those typically seen in the run-up to the pandemic.
Source: News Formal (newsformal.com)
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