"Unemployment across the UK has hit a near five-year high, and wage growth has slowed. The latest labour market data, just released this morning, shows that the UK jobless rate rose to 5.2% in the October-December quarter. That's up from 5.1% in September-November, and the highest rate since the first quarter of 2021. The number of workers on company payrolls fell too down by 130,000 over the year and by 46,000 over the quarter."
"The number of workers on payroll fell further in the final quarter of the year, reflecting weak hiring activity, although it is largely unchanged in the latest month. Over the same period the unemployment rate increased, with data showing that more people who were out of work are now actively looking for a job. The number of vacancies has remained broadly stable since the middle of last year. Alongside rising unemployment this means that the number of unemployed people per vacancy has increased, reaching a new post-pandemic high. Meanwhile, redundancies are also showing an upward trend. Private sector wage growth continues to slow and is at its lowest rate in five years. Public sector pay growth also slowed in the latest period but remains elevated, still affected by some pay awards being implemented earlier in 2025 than 2024, although this effect has now started to diminish."
Unemployment across the UK rose to 5.2% in the October-December quarter, the highest rate since early 2021. Company payrolls fell by 130,000 over the year and by 46,000 over the quarter, reflecting weaker hiring. Basic pay excluding bonuses increased 4.2% in the quarter, down from 4.4%, while total earnings including bonuses slowed to 4.2% from 4.6%. More people out of work are actively seeking jobs, and vacancies have been broadly stable since mid‑last year. The number of unemployed people per vacancy reached a new post‑pandemic high, and redundancies are trending upward. Public‑sector pay growth remains elevated but is easing.
Read at www.theguardian.com
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