Slight fall in February sees unemployment drop to post-pandemic low of 4.3%

Excluding young people, the unemployment rate stood at just 3.4% in February

In annual terms, unemployment has fallen by 0.5% since February 2022

Unemployment fell by a further 0.1% in February, with the seasonally adjusted rate of just 4.3% reflecting an additional 1,600 people joining the workforce since January 2023.

The post-pandemic low comes despite increased business uncertainty amid high inflation and rising interest rates.