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.