Unemployment rate ticks up as wages continue to grow

The Office for National Statistics said the rate hit 4.2% in the three months to June.

The rate of UK unemployment increased in the three months to June even as pay grew at the fastest rate since records began, new figures show.

The Office for National Statistics (ONS) said the unemployment rate hit 4.2% during the quarter, up 0.3 percentage points from the previous three-month period.

It is the highest since the three months to October 2021, the ONS said, and brings the measure above pre-pandemic levels.

The statisticians said regular pay, which excludes bonuses, reached 7.8% compared to a year earlier.

“This is the highest regular annual growth rate we have seen since comparable records began in 2001,” they said.

In real terms, regular pay rose 0.1% for the year when adjusting for Consumer Prices Index including owner occupiers’ housing costs (CPIH) inflation.

It is the first time since October 2021 that real wages have increased, the ONS added.

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