UK unemployment falls unexpectedly

The unexpected fall in the jobless rate from 5.2% provided a temporary boost to the government, though wage growth slowed to its lowest level since 2020.

Analysts noted that the labor market remains in a fragile state, with job vacancies falling to their lowest point in nearly five years.

The data was collected just prior to the full economic impact of the Iran war, which is expected to cause further turmoil.

Chancellor Rachel Reeves maintained that the government has the right plan for growth despite the challenging global environment.