The Magazine for Asian Investors
The Office of National Statistics (ONS) in the United Kingdom announced that the unemployment rate was 3.8% in March and May, while the employment rate reached its highest level since mid-2021, suggesting that the tight cost of living has not yet affected employment demand.
Previously, most economists had predicted that the unemployment rate would rise to 3.9% in March-May from 3.8% in February and April.
According to the report, the number of jobs increased by 296,000, the largest increase since the June-August period last year.
The number of employees is still below the level before the COVID 19 epidemic. However, the number of full-time employees has reached an all-time high. This contrasts with the number of self-employed, which continues to decline.