UK economy: Surprise fall in unemployment rate to 4.9% | Money News
The UK’s unemployment rate has taken a surprise fall, according to official figures, released amid warnings of a spike in job losses to come. The Office for National Statistics (ONS) reported that the rate fell to 4.9% during the three months to February. That was down from a previous level of 5.2%. But the ONS said that early data from HM Revenue & Customs, covering workers in payrolled employment, showed a drop of 11,000 during March – the first month of the US-Iran war that saw global energy prices rise sharply. Money latest: Experts disagree on overpaying your mortgage The wider figures showed average annual earnings growth, excluding bonuses, fell to 3.6% from 3.8%. ONS director of economic statistics, Liz McKeown, said: “The number of workers on payroll remained broadly flat in recent periods, reflecting ongoing weak hiring. “Vacancies fell to their lowest level in almost five years, but with unemployment also falling the number of vacancies per unemployed person remains broadly unchanged. “Alongside falling unemployment, the number of people not actively seeking work increased, …









