The Digester

UK wage growth slows sharply as unemployment holds steady

Mar 19th 2026

Office for National Statistics data show average earnings growth slowed to 3.8% in the three months to January while the unemployment rate remained at 5.2%.

  • Regular pay growth fell to 3.8% in the three months to January, down from 4.2% in the previous period.
  • This is the weakest rate of wage growth in more than five years, according to the ONS.
  • Unemployment was unchanged at 5.2% in the latest data.
  • Bank of England policymakers are expected to keep interest rates on hold at 3.75% amid higher oil prices and geopolitical uncertainty.

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