Tuesday, February 17, 2026 at 10:43 AM
Unemployment in the U.K. rose to 5.2%, the highest level in nearly five years, alongside slowing wage growth, which may prompt the Bank of England to consider cutting interest rates next month.
Wage increases in the eurozone slowed last year, a sign that inflation is set to remain around the European Central Bank’s target this year.
The reading increases the chances of a rate cut by the Bank of England when policymakers next meet in March.
The U.K. economy recorded another year of modest economic growth in 2025 as consumers stayed cautious, unemployment rose and borrowing costs remained high.
Sterling extended its losses to reach a four-week low against the euro after weak U.K. jobs data boosted the prospect of another interest-rate cut as soon as March.
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