UK unemployment rate remains at a near five-year high

Golden Ten Data reported on March 19 that the UK Office for National Statistics released data on Thursday showing that the unemployment rate in the UK remained at its highest level in nearly five years during the three months ending in January. The Middle East war may impact economic growth in the coming months and push the unemployment rate even higher. The data showed that the unemployment rate for the three months ending in January was 5.2%, unchanged from the three months ending in December last year. The annual average wage growth rate excluding bonuses was 3.8%, lower than the revised previous value of 4.1%. Economists surveyed by The Wall Street Journal previously expected an unemployment rate of 5.2% and an adjusted wage growth rate of 4.0%.