Unemployment Rate Highest for More than Two Years

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The unemployment rate has unexpectedly risen to its highest level for two and a half years, official figures show. The rate climbed to 4.4% in the three months to April, the highest since September 2021. Despite the increase, wage growth remained strong, with earnings continuing to rise faster than prices. There was another increase in the inactivity rate, bringing it to its highest level in nearly a decade, with more than a fifth of working-age people deemed not to be actively looking for work. “This month’s figures continue to show signs that the labour market may be cooling, with the number of vacancies still falling and unemployment rising, though earnings growth remains relatively strong,” the Office for National Statistics (ONS) said. Click here for more.