The UK unemployment rate reached a near five-year high and wage growth softened in the fourth quarter, strengthening the case for the Bank of England to cut interest rates in March.
The unemployment rate rose to 5.2 percent in the three months to December from 5.1 percent in the preceding period, the Office for National Statistics reported Tuesday. The rate hit the highest since early 2021 and also matched expectations.
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by Renju Jaya
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