Wage growth falls to lowest level for five years but Iran war will stall interest rate cut

Regular earnings growth fell back to 3.8% in the three months to January, the Office for National Statistics said (Alamy/PA) -

Unemployment in the UK is stuck at 5.2 per cent, while wage growth has fallen to the lowest level in more than five years as the jobs market remains stuck at the start of 2026.

The figures from the Office for National Statistics (ONS) show earnings growth is at 3.8 per cent for the three months through to January - the lowest since November 2020.