Unemployment in the UK rose slightly in the quarter to April, while employment continued to rise in May, suggesting that the slowdown in economic activity has not hit the labor market.
Unemployment stood at 3.8% in the quarter from 3.7% three months ago, according to the ONS statistics service.
The number of employees increased by 90,000 in May, less than in the previous year, to a total of 29.6 million. The number of vacancies in the period March-May, increased to a new record of 1.3 million
According to ONS data, wage growth has stabilized. The average weekly increase in the quarter up to April without allowances was 4.2% on an annual basis, unchanged from the increase in January-March.
Adjusted for inflation, the rise was 2.2%.
“The high level of bonuses continues to mitigate the effects of price increases on the total earnings of some workers, but with the exception of bonuses, real wages are declining at the fastest rate in a decade,” said Sam ONS, chief economist. Beckett.
Source: Capital
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