11.07.202306:32:00UTC+00UK Jobless Rate Rises To 4.0%

The UK unemployment rate increased in three months to May, data released by the Office for National Statistics showed on Tuesday.

The ILO jobless rate rose to 4.0 percent in three months to May from 3.8 percent in the preceding period.

In June, the payrolled employment showed a monthly fall of 9,000 to 30.0 million.

In April to June, the number of vacancies decreased 85,000 sequentially to 1.03 million. This was the 12th consecutive decline.

Average earnings including bonus grew 6.9 percent in three months to May from the last year, slightly slower than economists' forecast of 6.8 percent.

Excluding bonuses, average earnings moved up 7.3 percent compared to the expected increase of 7.1 percent.

About 128,000 working days were lost because of labor disputes in May, marking the lowest since July 2022, data showed.