AI Insights3 min readAI

Byte_Bear
Byte_Bear
3h ago
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UK Unemployment Soars, Tax Freeze Bites, AI Funding Booms

Mortgage rates remained relatively stable in February 2026, while the UK grappled with rising unemployment and changes to passport rules for dual nationals. Meanwhile, the artificial intelligence sector in the US continued to attract significant investment.

According to CBS News, mortgage interest rates in February 2026 were potentially low enough to support purchases or refinancing applications. While the Federal Reserve plays a major role in setting these rates, other factors also influence them. Mortgage interest rates had declined by more than a full percentage point on average in 2025, and further declines were possible.

In the UK, unemployment reached its highest level in nearly five years, with the rate climbing to 5.2% in the three months to December 2025, according to the Office for National Statistics (ONS), as reported by BBC Business. Young people were particularly affected, with unemployment for those aged 16 to 24 rising to 16.1%, the highest in over a decade. While wages continued to rise faster than prices, the growth rate slowed. Many businesses had also slowed hiring, citing measures in recent budgets.

Also in the UK, new passport rules for dual nationals were set to come into force on February 25th, as reported by BBC Business. These changes, part of a broader overhaul of the immigration system, could impact individuals like Jelena, a British-Latvian dual national, who learned of the changes recently. She faced potential difficulties entering the UK after traveling.

In the US, the AI startup market continued to boom, with nearly 20 US-based AI companies raising mega rounds of $100 million or more in early 2026, as reported by TechCrunch. U.S. AI startups had raised more than $76 billion through megarounds in 2025. One example was February Simile, which builds AI to mimic human decisions, raising a $100 million Series A round led by Index Ventures, announced on February 12th.

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Synthesized from multiple sources. Reviewed for accuracy.

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