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 ratesBusiness live – latest updatesUnemployment 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...