The UK unemployment rate has fallen unexpectedly to its lowest level since last summer as inactivity in the jobs market increases, according to official figures.
The Office for National Statistics (ONS) said the rate of UK unemployment dropped sharply to 4.9% in the three months to February, down from 5.2% in the three months to January.
Most economists had expected the jobless rate to remain unchanged.
The ONS said the fall was driven by a rise in inactivity, especially among students, which rose 70,000 in the quarter.
The figures also showed wage growth dropped further, to 3.6% in the three months to February, down from 3.8% in the previous three months.
Liz McKeown, ONS director of economic statistics, said: “Alongside falling unemployment, the number of people not actively seeking work increased, with data suggesting fewer students seeking work alongside their studies.
“Regular wage growth has slowed further with growth at its lowest rate in over five years.”
