Jobless rate surges to its highest level since 2021

THE jobless rate surged to its highest level for nearly four years and pay growth for UK workers eased by more than expected as employers faced surging staff costs, official figures have shown.

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The Office for National Statistics (ONS) said average earnings, excluding bonuses, fell sharply to 5.2% in the three months to April, from 5.5% in the previous three months and the lowest since the third quarter of last year.

While this is still outstripping inflation, up by 2.1% with Consumer Prices Index inflation taken into account, it was lower than predicted, with most experts pencilling in a fall to 5.3%.