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| Version 0 | Version 1 |
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| Unemployment jumps as UK jobs market stalls | Unemployment jumps as UK jobs market stalls |
| (32 minutes later) | |
| The UK jobs market is showing signs of stalling as the number of people out of work rose, according to new data. | The UK jobs market is showing signs of stalling as the number of people out of work rose, according to new data. |
| The unemployment rate increased to 4.2% between December and February, up from 3.9% in the three months to January. | The unemployment rate increased to 4.2% between December and February, up from 3.9% in the three months to January. |
| Meanwhile, the rate of people with a job dipped and the economically inactive - those not in work or looking for a job - ticked higher. | Meanwhile, the rate of people with a job dipped and the economically inactive - those not in work or looking for a job - ticked higher. |
| The Office for National Statistics said there are "tentative signs that the jobs market is beginning to cool". | The Office for National Statistics said there are "tentative signs that the jobs market is beginning to cool". |
| Wage growth also dipped, albeit marginally. | |
| Economists said a slowing jobs market raised the question of when the Bank of England might cut interest rates, which are currently at 5.25% - the highest level for 16 years. | |
| "With employment falling sharply and the unemployment rate climbing, we suspect wage growth will continue to ease in the coming months," said Paul Dales, chief UK economist at Capital Economics. "That may allow the Bank to cut interest rates in June." | |
| Yael Selfin, chief economist at KPMG UK, added: "Easing pressure in the labour market keeps the Bank on track for a summer rate cut." | |
| Related Topics | Related Topics |
| Unemployment | Unemployment |
| Personal finance | Personal finance |
| Pay | Pay |