The U.Okay.’s jobless fee ticked up within the three months to February, albeit remaining at comparatively low ranges, whereas pay progress held regular, reflecting a labor market barely cooling amid pressures on the economic system.
The U.Okay. unemployment fee stood at 3.8% within the December-February interval, barely larger than the three.7% fee recorded within the three months to January, in accordance with knowledge from the Office for National Statistics launched Tuesday.
The studying matches economists’ expectations in a ballot by The Wall Street Journal.
The U.Okay.’s unemployment fee nonetheless stays near the three.5% recorded within the three months to August, which marked the bottom degree since 1974.
Vacancies fell by 47,000 within the three months to March in contrast with the prior quarter, proof of slack in labor demand, though at a complete of 1.11 million, they continue to be at a excessive quantity by historic requirements.
The most up-to-date estimate of payrolled workers rose by 31,000 folks in March in contrast with February.
Average weekly earnings excluding bonuses elevated 6.6% on yr within the three months to February, matching the upwardly revised rise within the previous quarter, suggesting inflation pressures on wages stay sturdy.
Write to Ed Frankl at edward.frankl@wsj.com
Source web site: www.marketwatch.com
