Falling vacancies and rising unemployment hit UK jobs market
The Office for National Statistics’ (ONS) most recent labour market data shows that, between January and March, job vacancies fell by 30,000 or 3.3% to 889,000 – the 24th consecutive period to witness a fall.
The employment rate also fell in the last quarter and was below the estimate from a year ago, at 74.4%. Unemployment rose to 4.4%.
The ONS also revealed that the economic inactivity rate for those aged 16 to 64 was 22.1%. Annual growth in employees’ average regular earnings remains “relatively strong” at 5.7%.
New work and pensions secretary Liz Kendall commented: “Spiralling economic inactivity, rising unemployment and the UK standing alone as the only G7 country where the employment rate is still not back to pre-pandemic levels. This is a truly dire inheritance which the Government is determined to tackle.”
Image credit | Shutterstock
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