The UK unemployment rate unexpectedly rose to 5% in March, signaling a cooling labor market amid rising costs and geopolitical tensions.
Economists had expected the rate to hold at 4.9%. The increase brings unemployment close to 10-year highs seen earlier this year.
Payrolled employees fell by 28,000 in March, worse than the expected 11,000 drop. Early April estimates show a steep 210,000 decline year-on-year.
Claimant count also rose more than forecast. Analysts warn that the Iran conflict is prompting firms to cut jobs rather than raise wages.
