UK unemployment price highest for greater than two years | EUROtoday

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The unemployment price has unexpectedly risen to its highest stage for 2 and a half years, official figures present.

The price climbed to 4.4% in February to April this 12 months, up from the earlier determine of 4.3% and the very best since September 2021.

The Office for National Statistics (ONS) additionally mentioned there was one other improve within the inactivity price, with 22.3% of working age folks deemed to not be actively searching for work.

Wage development remained sturdy, with common pay rising at an annual tempo of 6%.

Earnings are persevering with to extend quicker than inflation, the speed at which costs rise.

“This month’s figures continue to show signs that the labour market may be cooling, with the number of vacancies still falling and unemployment rising, though earnings growth remains relatively strong,” the ONS mentioned.

Economists have been anticipating an uptick in pay rises however anticipated the unemployment price to remain the identical.