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6/16, 8:02 AM (Source: TeleTrader)
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UK unemployment rate beats estimates despite lockdown

The rate of unemployment in the United Kingdom was reported at 3.9% in the quarter from February to April, virtually unchanged compared to the previous quarter and below estimates despite the coronavirus lockdown, the Office for National Statistics said in a release on Tuesday.

Meanwhile, the UK employment rate was estimated at 76.4%, up 0.3 percentage points on the year and 0.1 percentage points down on the previous quarter.

In March, the British government imposed a lockdown over the pandemic, shutting down most businesses in an effort to help curb the spread of the virus.

Breaking the News / JC