Large Rise In Work Force Sends Unemployment.>

UK DATA: Large Rise In Work Force Sends Unemployment Rate Up     

--Oct-Dec Unemployment Level Up 46,000; Jobless Rate Up 0.1pp To 4.4%    

--Oct-Dec Total Earnings +2.5% 3m y/y Unchanged Vs Sep-Nov

--Oct-Dec Ex-Bonus Earnings +2.5% 3m y/y Vs +2.3% 3m y/y in Sep-Nov

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A 46k quarterly rise in the unemployment level, the biggest since 

Dec-Feb 2013, offset a smaller than expected 88k rise in the employment 

level to take the jobless rate up to 4.4% - the first rise in the rate 

since Dec-Feb 2016. Also contributing, the number of those classfied as 

inactive fell 109k on the quarter. Elsewhere, wage growth also defied 

expectations of a rise, holding firm at 2.5% in the 3m to Dec, while the 

level of vacanies rose to a record high. A flash estimate placed UK Q4 

productivity at 0.8%, 0.1pp lower than in the previous quarter.