UK Unemployment Reaches Highest Level in Nearly a Year

Despite rising joblessness, real wages grow at fastest rate in over two years, exceeding inflation for the tenth consecutive month.

The UK's unemployment rate increased to 4.3% in the first quarter of 2024, the highest since mid-2023.
Real wage growth outpaced inflation by 2.4%, marking the tenth month of such growth.
The number of job vacancies fell for the 22nd consecutive month, with a significant drop in payroll employment.
Economic inactivity rose, with a record number of people out of work due to long-term health issues.
Bank of England faces mixed signals as it considers potential interest rate cuts.