UK unemployment rises and wage growth slows as jobs market ‘weakens’
by Phillip Inman from on (#6YPXK)
ONS data shows jobless rate climbing to highest rate since June 2021 with growth in average earnings slowing to 5%.
Unemployment climbed and wage growth slowed in the three months to May, according to official figures that will pressure the Bank of England to cut interest rates next month.
Data from the Office for National Statistics, released on Thursday, showed that Britain's official unemployment rate rose to 4.7% in the three months to May, up 0.1% from April to reach the highest level since June 2021.
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