This is shocking. I was just reading the latest ONS figures:-
The unemployment rate in the UK has risen to its highest level in almost 4 years. The ONS said the rate was 4.5% in the first three months of this year, up 0.2% on previous quarter and the highest reading since summer 2021.
The number of vacancies in the economy was down 5.3% in the three months to the end of April. There were 761,000 job vacancies in that period, a 131,000 drop on a year ago, with the construction sector experiencing the biggest decline'.
Pay growth also down from 5.9% to 5.6%.
The Learning and Work Institute said; 'the largest employment falls seen in retail and hospitality. These were also the sectors where pay growth has been fastest as the minimum wage rise comes in'.