India, May 13 -- The UK unemployment rate edged up and wage growth softened in the first quarter ahead of the rise in payroll taxes, official data revealed on Tuesday.
The unemployment rate rose to 4.5 percent in the three months to March, in line with expectations, from 4.4 percent in the three months to February, the Office for National Statistics reported. Average regular earnings excluding bonuses grew 5.6 percent on a yearly basis in the January to March period, slower than the 5.9 percent rise in the preceding period. This was also slightly weaker than the expected growth of 5.7 percent.
At the same time, including bonuses, average earnings advanced 5.5 percent year-on-year, which was better than the forecast of 5.2 percent.
Payrol...