UK unemployment steady at 5.2%; wages grow slowest in 5yr

Business Mar 19, 2026

Wages in the UK grew at their slowest pace in over five years between November 2025 and January 2026, dropping to 3.8% from 4.2%.
Even with smaller pay bumps, the unemployment rate held steady at 5.2%.
As Liz McKeown from the Office for National Statistics put it, labor market conditions have remained largely unchanged, with only a slight uptick in payroll numbers.

Bank of England likely to hold rates

Despite slower wage growth and worries about inflation, thanks to rising oil prices and global tensions, the Bank of England is expected to leave its interest rate on hold at 3.75%.
The US Federal Reserve also kept its rates unchanged this week, showing that both UK and US central banks are playing it safe while they wait to see how things shake out.