Unemployment rate ticks up to 5% and wage growth slows

The UK's jobless rate has ticked up to 5% and the pace of basic wage growth has eased further as the country faces down a fresh energy-led price shock.

Data from the Office for National Statistics (ONS) had been expected to show no movement in the unemployment rate over the three months to March from the 4.9% reported last month.

These were the first figures to take in the first weeks of the US-Iran war that prompted a sharp rise in oil and gas costs, with the resulting lift in fuel prices hurting businesses and families almost immediately.

By Sky News

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