UK unemployment shows surprise fall to 4.9% as pay growth drops to lowest in five years

UK unemployment shows surprise fall to 4.9% as pay growth drops to lowest in five years

ONS data for three months to February is not expected to alter Bank of England’s decision on interest rates Unemployment in the UK unexpectedly fell in the three months to February, according to official figures – but the fallout from the conflict in the Middle East is expected to cause a rise in job cuts. The Office for National Statistics (ONS) said that the rate of unemployment was 4.9% in the three months to February. This compares with 5.2% in the three months to January, a rate that economists had expected to also see in February. Continue reading...