UK Wage Growth Remains Strong, While Unemployment Goes Up: ONS
Published on May 14, 2024
The UK labour market is generating fewer jobs, but is paying out more to those who do have one a review has found. UK wage growth remained strong in the first quarter of the year, while the unemployment rate rose above the estimates of a year ago, the Office of National Statistics (ONS) has reported. The number of unemployed people in the country in the first three months of the year increased to the rate of 4.3 percent, the highest since May to July 2023. The ONS also reported a 2.8 percent drop in the number of vacancies from November 2023 to January 2024. Thirteen out of the 18 industry sectors saw a decrease in vacancies in February to April 2024....