UK Employment Unchanged at 75.5%

Source: Office for National Statistics

The United Kingdom’s employment rate was unchanged in the December to February period while unemployment eased. EWU is down 0.12%, while EZU is up 0.19% premarket.

• The UK employment rate was largely unchanged at 75.5% during the quarter but remained below levels seen prior to the COVID-19 pandemic.
• The number of full-time employees picked up during the period but was offset by the decline in part-time workers. Self-employed workers increased slightly.
• Payrolled employees inched up by 35,000 to a record of 29.6 million in March.
• The unemployment rate declined by 0.2 percentage points to 3.8%, driven mainly by the drop in unemployed for up to 12 months.
• Individuals unemployed for over a year also reflected a decline from the peak recorded in July to September last year.
• The economic inactivity rate jumped by 0.2 percentage points to 21.4%, while job vacancies to a record-high 1.288 million.