UK jobs market softens, despite strong wage growth – ETHRWorldME
(Recasts, adds ONS quote and unemployment data)
Britain’s labour market showed more signs of cooling in April as the unemployment rate rose, despite another month of strong wage growth, official data showed on Tuesday.
The unemployment rate for the three months to April rose to 4.4% from 4.3% between January and March, the highest reading since the three months to September 2021, the Office for National Statistics said.
A Reuters poll of economists had pointed to an unchanged unemployment rate.
“This month’s figures continue to show signs that the labour market may be cooling, with the number of vacancies still falling and unemployment rising, though earnings growth remains relatively strong,” the ONS said.
British wages excluding bonuses – which are being watched by the Bank of England as it considers when to cut interest rates – grew by 6.0% in the three months to the end of April compared with the same period a year earlier.
Economists polled by Reuters had forecast wage growth of 6.1%. (Reporting by Andy Bruce; Editing by William Schomberg)
Related
Election losses cost 2,000 people their jobs, says Westminster watchdog
More than 2,000 people lost their jobs after an “almost unprecedented” turnover of MPs at the last election, a parliamentary watchdog has said.The Independe
People using AI will take jobs in the future, not…
People won’t lose out on jobs to AI in the future, but to a person using the technology to improve their working life, a senior Samsung UK and Ireland executi
Young people abandon traditional jobs for roles in social media…
Generation Z wants to move away from traditional roles for careers as gamers or social media professionals, new research has revealed.The survey of 2,000 young
Military boost to Ukraine front line will support UK growth…
A Yorkshire-based defence company will begin the production of barrels for the first time in almost two decades, as the UK ramps up its military supplies to Ukr
