US EditionFTSE 100 flat after data shows UK jobs market ‘cooling’
- The UK's unemployment rate rose to 4.5% in the first quarter of 2025, marking the highest level since mid-2021, according to the Office for National Statistics.
- This rise followed a drop of 53,000 payrolled employees and a fall of 42,000 job vacancies amid recent tax hikes and new business costs affecting employers.
- Economic advisers pointed to contrasting economic indicators, including a notable 5.5% increase in wage values and a new UK-US trade agreement, while also expecting the labor market to deteriorate further over the coming months.
- Joe Nellis noted that rising pressures on the labor market will lead to changes in unemployment rates, but these changes are expected to be negative rather than favorable.
- The cooling jobs market suggests unemployment may approach 5% later in 2025, potentially leading to gradual easing in employment and further Bank of England rate cuts.
12 Articles
12 Articles
Badenoch challenges Starmer on UK unemployment rise
The Prime Minister has denied the 10 per cent rise in unemployment since last year’s election is the fault of his government, arguing that the recently struck trade deals with India and the United States will boost jobs and the UK economy. During a fiery exchange at Prime Minister’s Questions, Keir Starmer accused Kemi Badenoch of “talking the country down” after the leader of the opposition questioned his government’s record on jobs. Referring …
UK unemployment rises to highest level since 2021
THE UK’s unemployment rate rose to 4.5 per cent in the first quarter of 2025, the highest level since August 2021, according to official figures released on Tuesday.The Office for National Statistics (ONS) said the figure was up from 4.4 per cent in the three months to the end of February.The data covers a period before April’s rise in business tax announced in the Labour government’s first budget in October. It also comes before a 10 per cent b…
UK Jobless Rate Climbs to 4.9%, Marking Highest Since 2021
The United Kingdom’s unemployment rate surged to 4.9% in the three months to March 2025, the highest since the third quarter of 2021, reflecting economic pressures from high inflation and tightened monetary policy. The data, released on May 12, 2025, by the Office for National Statistics, highlights a softening labour market as businesses face rising costs and reduced consumer spending.The increase from 4.3% in the previous quarter translates to…
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