Economics
U.K. Unemployment Drops Below Pre-Covid Level for First Time
- Companies create more jobs and higher wages than expected
- Figures may embolden Bank of England to raise interest rates
The U.K. jobless rate fell to 3.9% in the three months through January.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
U.K. unemployment dropped below its pre-pandemic level for the first time as companies generated more jobs and granted higher wages than expected.
The jobless rate fell to 3.9% in the three months through January, the lowest since the start of 2020, the Office for National Statistics said Tuesday. Employers added 275,000 jobs in February, more than double the number predicted by economists.