UK unemployment rises to 5% as hiring weakens (opens in new tab)

Britain’s unemployment rate unexpectedly rose to 5% in the three months to March from 4.9%, while job vacancies fell to their lowest level in five years as employers cut hiring. Official data also showed wage growth slowing to 3.4%. Some reports linked the cooling labour market to pressure on businesses from higher energy costs tied to the Iran war. Early payroll data from the tax office showed payrolled employment fell by 100,000 in April from March, the largest monthly drop since May 2020. ...