Unemployment rate rises to near four-year high as wage growth falters
New ONS figures spell bad news for workers
- The UK unemployment rate has risen to 4.5 per cent, the highest since summer 2021, according to new figures from the Office of National Statistics (ONS).
- Wage growth has also slowed, easing to 5.6 per cent in the three months to March, the lowest since November 2024.
- Job vacancies decreased for the second consecutive quarter, remaining below pre-pandemic levels.
- The number of workers on UK payrolls fell by 33,000 in April.
- The ONS describes these trends as signs of a "cooling" labour market.