Brief by Shorts91 Newsdesk / 09:27am on 17 Jul 2025,Thursday International
The UK's unemployment rate has climbed to 4.7% in the three months to May, reaching its highest level since 2021, according to the Office for National Statistics (ONS). The figure rose from 4.6% in the previous three months. Wage growth, excluding bonuses, also slowed to 5%, marking the lowest level in nearly three years. ONS said payroll numbers fell again, although revised tax data suggests the decline was less severe than earlier thought. The data comes as the Bank of England signals potential larger interest rate cuts if the labour market shows further signs of weakness. (PC: Itv news)
