Unemployment in UK at 4.3% in Q1, above forecasts

The unemployment rate in the UK was at 4.3% in the first quarter of this year, above estimations, the Office for National Statistics announced on Tuesday.

The unemployment rate went up by 0.5 percentage points from the previous quarter, the office noted.

"The economic inactivity rate is up on the quarter and up on the year, and still above pre-pandemic rates," the office said.

The employment rate in the country was at 74.5% in the UK in the January-March period, down 0.6 percentage points on a quarterly basis.

"Payrolled employees in the UK fell by 5,000 between February and March 2024, but rose by 288,000 between March 2023 and March 2024," it added.