Bank of England expected to keep interest rates on hold as Iran war casts shadow over labour market Jobs market was in fragile state even before Iran war Business live – latest updates Unemployment in the UK unexpectedly fell in the three months to February, according to official figures – but the fallout from the conflict in the Middle East is expected to cause a rise in job cuts. The Office for National Statistics (ONS) said the rate of unemployment was 4.9% in February, the lowest level since last summer. This compares with 5.2% in the three months to January, a rate that economists had expected to also see in February. Continue reading...