UK unemployment unexpectedly rises to 5% as firms squeezed by Iran war

Pay growth eases to 3.4% as businesses face pressure from soaring energy costs Unemployment in the UK has unexpectedly risen to 5% while wage growth has slowed, according to official figures, in the first snapshot of how companies are reacting to the impact of the Iran war. The Office for National Statistics (ONS) said the rate of unemployment was up in the three months to March, from 4.9% in February, a rate that City economists had expected to hold. Continue reading...

By Tom Knowles