Ammon News - 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, the lowest level since last summer. This compares with 5.2% in the three months to January, a rate that economists had expected to also see in February.

Excluding bonuses, wage growth fell to 3.6% year on year in the three months to February, down from 3.8% in January and the lowest level since November 2020. The fall was slightly less than a drop to 3.5% that City economists had expected.

Including bonuses, wages increased by 3.8%, slowing from a rise of 4.1% in the previous quarter.

The Guardian