The UK’s unemployment rate fell unexpectedly to 4.9% in the three months to February, while wage growth slowed to its weakest pace in more than five years, according to data from the Office for National Statistics, the BBC reported.
The decline came despite expectations that the rate would remain at 5.2%. However, the figures also show a rise in economic inactivity, meaning more people are not actively seeking work and are therefore excluded from unemployment calculations.
