UK wage growth slows and unemployment rate rises as companies react to Iran war – business live

Jobless rate unexpectedly rises to 5% with businesses squeezed by war in Middle East; economists say this makes June interest rate hike less likelySuren Thiru, chief economist at the Institute of Chartered Accountants in England and Wales, said:These figures signal a growing distress within the UK’s labour market as soaring labour costs and the fallout from the Iran war drive more businesses to reduce recruitment and limit pay awards.The continued fall in job vacancies is a worrying sign of the...