UK jobless rate rises to 4.3%; wage growth proves stubborn

(Alliance News) - The UK unemployment rate edged up slightly in the three months to March,

official data on Tuesday showed, while wage growth came in hotter than expected.

According to the Office for National Statistics, the nation's unemployment rate in three months to March ticked up to 4.3% from 4.2% in the three months to February. The reading landed in line with FXStreet-cited market consensus.

The ONS said average earnings excluding bonuses rose 6.0% on-year in the period, matching the pace of growth in the three months to February.

Including bonuses, wages increased 5.7%, also matching the prior month, which was revised upwards from 5.6%. Market consensus had been anticipating a rise of just 5.3%.

By Elizabeth Winter, Alliance News senior correspondent

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