UK unemployment rate steady at decade low, wage growth accelerates

The data released in the UK showed unemployment held at its lowest rate for a decade, while wage growth accelerated.

The Office for National Statistics (ONS) data showed wage growth inclusive and exclusive of bonus rose 2.1% y/y and 2% y/y respectively, both bettering estimates.

Unemployment fell 28,000 leaving the rate at 5.1%, the lowest since early 2006. Jobless claims fell 18K February to 716,700, leaving the rate at 2.1%, the lowest since 1974.