|
The UK unemployment rate increased slightly in the three months to March while pay growth declined, numbers on Tuesday showed. The Office for National Statistics said the UK jobless rate was 4.5% in the three months to March 2025, in line with an FXStreet-cited consensus and up from 4.4% in the previous three-month period to February. The employment rate for people aged 16 to 64 was estimated at 75%, unchanged from the previous quarter. Meanwhile, the economic inactivity rate was estimated at 21.4%, up slightly from 21%. Vacancies fell by 42,000 to 761,000 during the quarter, which was the 34th consecutive quarterly decline. Reductions were seen in 13 out of the 18 industry sectors, and vacancies were 34,000 lower than the pandemic levels in January to March 2020. The number of payrolled employees fell by 0.2% or 53,000 during the quarter, and was reduced by 4,000 compared to January to March 2024. Early estimates for payrolled employees in April are 0.1% lower, down by 33,000. Annual growth in regular pay, which excludes bonuses, was 5.6%, edging down from 5.9% in the three months to February, and falling short of an FXStreet-cited consensus for 5.7%. Annual growth including bonuses was 5.5%, slightly down from 5.6% and outperforming an FXStreet consensus for 5.2%. Adjusted for inflation using the consumer prices index, including owner occupiers’ housing costs, real regular pay rose 1.8% and total pay was up 1.7% in the quarter. This compared to 2.1% and 1.9% respectively in the preceding quarter. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
