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UK Adds 2,000 Jobs in May, Beating Forecast; Market Expects BoE Rate Hold at 3.75%

2026-06-18 06:31:13

According to the UK Office for National Statistics, UK employment added 2,000 jobs in May on June 18, significantly outperforming economist expectations of a 23,000 decline. April's job losses were also revised downward to 53,000 from 100,000. The unemployment rate for the three months through April edged down to 4.9%, while job vacancies fell to their lowest level since early 2021. These figures suggest the UK labor market, though still weak, may not be deteriorating as sharply as feared. The data comes ahead of the Bank of England's rate decision later today, with markets widely expecting the central bank to hold rates steady at 3.75%.

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