U.K. Labor Market Cools Ahead of Rise in Payroll Taxes
The U.K.'s labor market eased in March as wages cooled and unemployment edged up, suggesting firms braced for higher payroll taxes and minimum wages starting in April.
The key measure of weekly average earnings excluding bonuses in the three months to March rose 5.6% from a year earlier, down from 5.9% in the three months to February, the Office for National Statistics said Tuesday. Unemployment ticked up to 4.5% from 4.4% in the period.
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