UK unemployment charge jumps to five.1%

The UK’s unemployment charge rose to five.1 per cent final month – near a five-year excessive – with Covid persevering with to pummel the economic system, new figures present.

The Workplace for Nationwide Statistics (ONS) mentioned the unemployment charge was up 0.4 proportion factors on the earlier quarter and 1.3 proportion factors increased than a yr earlier.

In a slither of fine information, the ONS mentioned there have been 83,000 extra folks in payrolled employment in January compared with December 2020 – the second consecutive month-to-month improve – however this was nonetheless down 726,000 because the begin of the pandemic.

Jonathan Athow, deputy nationwide statistician on the ONS, mentioned the information recommended the employment market was levelling out after a tough 12 months.

He mentioned: “The newest month-to-month tax figures present tentative early indicators of the labour market stabilising, with a small improve within the numbers of workers paid by way of payroll during the last couple of months – although there are nonetheless over 700,000 fewer folks employed than earlier than the beginning of the coronavirus pandemic.

“Nearly three-fifths of this fall in workers because the onset of the pandemic got here from the under-25s, in accordance with a brand new age breakdown we’re publishing for the primary time immediately.

“Our survey exhibits that the unemployment charge has had the most important annual rise because the monetary disaster.”

The ONS knowledge confirmed the UK employment charge for the three months to December was 75 per cent, 1.5 proportion factors decrease than a yr earlier and 0.3 proportion factors decrease than the earlier quarter.

There have been an estimated 599,000 vacancies within the UK within the three months to January, 211,000 fewer than a yr in the past and 64,000 greater than the earlier quarter.

Development in common whole pay (together with bonuses) amongst workers for the three months to December elevated to 4.7 per cent, and development in common pay (excluding bonuses) additionally elevated to 4.1 per cent.

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