Overview

• Wage growth in the UK has decelerated, with regular pay excluding bonuses growing at 6.1% in the three months to January.
• The unemployment rate in the UK has unexpectedly risen to 3.9%, marking the first increase in recent months.
• Despite the slowdown in wage growth and rise in unemployment, real wages have risen for the seventh consecutive month, outpacing inflation.
• The number of job vacancies has decreased for the 20th consecutive time, indicating a tightening labor market.
• Investors are adjusting their expectations for a Bank of England interest rate cut, now anticipating a potential reduction in June rather than May.