UK unemployment rate sees surprise fall to 4.9%
Summary
The UK unemployment rate fell unexpectedly to 4.9% in the three months leading up to February. Wages grew by 3.6% annually during this period, rising faster than inflation despite a slower growth pace.Key Facts
- The unemployment rate in the UK dropped to 4.9% from an expected 5.2%.
- The data covers the three-month period up to February.
- The Office for National Statistics (ONS) provided these figures.
- Wages increased by 3.6% year-on-year between December and February.
- Wage growth is still higher than inflation, meaning pay raises outpaced price increases.
- Analysts had predicted the unemployment rate would stay the same at 5.2%.
- The UK economy showed stronger growth than expected in February.
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