UK unemployment rate falls to 5.0%; though claimant count rises

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The UK unemployment rate fell unexpectedly even as the claimant count rose, according to the Office for National Statistics.

The UK unemployment rate in the three months to January fell to 5.0%, down from 5.1% previously and defying market expectations of a rise to 5.2%.

The claimant count, however, rose by around 86,600, above expectations of a more modest increase of 9,000.