US EditionUnemployment rate hits near four-year high as wage growth falls: ONS
- Job vacancies in the UK fell to 761,000 in April 2025, continuing a downward trend from the early 2022 peak of 1.3 million.
- This decline followed employer cost increases including a rise in the minimum wage and national insurance contributions, which pressured hiring.
- The Office for National Statistics also reported a modest increase in unemployment to 4.5% in March 2025 and advised caution in interpreting monthly changes.
- Average weekly earnings grew by 5.5% in the three months to March 2025, slower than before but still outpacing inflation which stood at 2.6%.
- These trends imply employers face higher costs and reduced hiring capacity, while wage growth slows yet remains above inflation, potentially affecting the labor market balance.
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UK jobs market cools, offering some relief to Bank of England
Britain's jobs market showed further signs of a slowdown as employment fell and growth in wages cooled, according to official data published on Tuesday that is likely to reassure the Bank of England that inflation pressures are waning.
·United Kingdom
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Economy warning: UK unemployment rate jumps after Rachel Reeves's 'National Insurance rise'
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·London, United Kingdom
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