U.K. Unemployment Rises, Wages Go Nowhere as Labor Market Cools
- Employment climbs 20,000, weakest reading since June 2015
- Total wage growth slows as bonuses in financial sector decline
Is There Evidence U.K. Job Market Is Cooling?
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U.K. unemployment rose for the first time in seven months and employers added far fewer jobs than forecast, suggesting the labor market is cooling.
The number of people looking for work climbed by 21,000 to 1.7 million in the three months through February, the Office for National Statistics in London said on Wednesday. That left the jobless rate unchanged at a decade-low of 5.1 percent, as forecast by economists. Employment rose by 20,000, the weakest reading since June last year.