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UK unemployment rate reaches 4.4% in April, highest since September 2021

UK unemployment rate reaches 4.4% in April, highest since September 2021

Posted on June 17, 2024   |  

The UK unemployment rate rose to 4.4% in the three months to April, the highest since September 2021.

Wage growth remained strong despite higher unemployment, with regular earnings (excluding bonuses) up 6% annually.

Adjusted for inflation, pay increased at an annual rate of 2.9%, the highest since August 2021.

The National Living Wage increase in April to £11.44 an hour (up 9.8% from last year) contributed to the wage growth.

The number of employees dropped by 36,000 between March and April, continuing to fall in May.

Job vacancies decreased by 9,000 to 904,000, signaling a tighter job market.

Over 22% of working-age adults, more than nine million people, are not actively seeking work, causing concerns about worker shortages affecting the UK economy.



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