Unemployment Rate on the Rise

The United Kingdom has witnessed a slight uptick in its unemployment rate, which reached 4.7% in the three months leading up to May, as reported by the Office for National Statistics (ONS) this Thursday.

Employment and Economic Activity

Contrasting the unemployment trend, the employment rate saw an increase, estimated at 75.2%, marking a rise from the previous quarter. Meanwhile, economic inactivity has decreased to 21%, indicating a dynamic shift in the UK's labor market.

Vacancies and Earnings Growth

The period from March to May 2025 recorded an estimated 727,000 job vacancies, a drop of 56,000 from the earlier quarter. On a brighter note, the average annual growth in employees' earnings in Great Britain stood firm at 5.0%, encompassing both regular and total earnings, including bonuses.