UNEMPLOYMENT in the UK has stayed put at a five-year high, while wage growth has slowed to the lowest rate since 2021.
Britain’s jobless rate was at 5.2% in the three months to January, official figures released today show.
The latest figures, published today by the Office for National Statistics, will come as the latest blow for Chancellor Rachel Reeves and Labour.
Earnings growth – the rate at which Brits’ wages are rising – fell to 3.8% between November and January.
It comes after unemployment hit an almost five-year high last month, jumping to 5.2%.
What it means for you
The unemployment rate measures the percentage of people over the age of 16 who aren’t working but are available and actively looking for work.
A low jobless rate is bad news for households and the economy.
High levels of unemployment can increase the number of people on benefits being propped up by taxpayers.
Rising unemployment can also be a sign of a weakening labour market, with more people looking for work while vacancies are falling – making it harder for people to secure jobs and increasing competition for roles.
