Ebene Magazine – TOP NEWS: UK unemployment rate drops to 4.9% in three months to February

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(Alliance News) – Unemployment in the UK fell to 4.9% in the quarter through February, the National Statistics Office said Tuesday. The unemployment rate was lower than expected.

The unemployment rate in the UK was 0.9 percentage points higher than a year earlier, but 0.1 percentage points lower than 5.0% in the three months to January.

An estimated 1.7 million people were unemployed from December through February, an increase of 311,000 from a year earlier but a decrease of 50,000 from the previous quarter. This is the first quarterly decline since October through December 2019.

According to FXStreet, the market consensus forecast an unemployment rate of 5.1% for the quarter through February.

The employment rate in the UK was estimated at 75.1%, 1.4 percentage points lower than last year and 0.1 percentage points lower than the quarter from September to November 2020.

It was estimated at 32.4 Millions of people aged 16 and over are employed, 643,000 fewer than a year earlier and 73,000 fewer than in the quarter. The annual decline was the largest since May to July 2009.

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