The latest report from the Office for National Statistics indicates that unemployment has risen to 4.7%, up from 4.4% in January 2025. This increase in joblessness is attributed to the planned rise in employer's National Insurance Contributions to 15% starting in April 2025. Despite the rise in unemployment, overall employment numbers have slightly increased as some individuals return to the workforce. Inflation is also projected to climb to 3.7%, placing additional pressure on government officials, particularly Rachel Reeves.
The latest employment statistics from ONS show a further increase in the number of people out of work, with 4.7% of people now registered as unemployed, an increase from 4.4% in January 2025.
This increase in joblessness was almost inevitable following Rachel Reeves decision to increase employer's NICs to 15% from April 2025.
While the rate of people who are unemployed has increased, the absolute number of people in employment has increased slightly, as individuals who had perhaps retired or 'opted out' of the labour market after Covid have returned to work.
Inflation is expected to increase to 3.7% in the coming months. Meaning the pressure on Rachel Reeves will also be growing.
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