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UK unemployment jumps to highest since 2021 as wage growth slows
UK unemployment jumps to highest since 2021 as wage growth slows

Yahoo

time2 days ago

  • Business
  • Yahoo

UK unemployment jumps to highest since 2021 as wage growth slows

Britain's jobless rate has struck its highest level for four years as workers also faced another slowdown in wage growth, official figures have shown. The Office for National Statistics (ONS) said the rate of UK unemployment increased to 4.7% in the three months to May, from 4.6% in three months to April. It said this marked the highest level since June 2021. We've published the latest labour market figures. Commenting on today's figures, ONS Director of Economic Statistics Liz McKeown said: (quote 1 of 2) Read the Labour market overview ➡ — Office for National Statistics (ONS) (@ONS) July 17, 2025 Meanwhile, average earnings growth, excluding bonuses, slowed to 5% in the period to May to its lowest level for almost three years. The figures point towards further pressure in the UK labour market, days after the governor of the Bank of England warned that the Bank is prepared to make larger interest rate cuts if it sees that the job market slowing. ONS director of economic statistics Liz McKeown said: 'The labour market continues to weaken, with the number of employees on payroll falling again, though revised tax data shows the decline in recent months is less pronounced than previously estimated. 'Pay growth fell again in both cash and real terms, but both measures remain relatively strong by historic standards.'

Australia unemployment rate climbs to 3-1/2-year high in June
Australia unemployment rate climbs to 3-1/2-year high in June

Yahoo

time2 days ago

  • Business
  • Yahoo

Australia unemployment rate climbs to 3-1/2-year high in June

SYDNEY (Reuters) -Australian employment rose only marginally in June as the jobless rate jumped to the highest since late 2021, a surprisingly weak report that adds to the case for a cut in interest rates next month. Figures from the Australian Bureau of Statistics out on Thursday showed net employment rose 2,000 in June from May, when it fell 1,100. That was well short of market forecasts for a 20,000 increase, though the series has been volatile in recent months. Full-time jobs dropped 38,200 in June. The jobless rate popped up to 4.3%, from 4.1%, the highest reading since November 2021 and a jolt after months of stable readings. The participation rate ticked up to 67.1%, while hours worked fell back 0.9% after a sharp rise in May. Sign in to access your portfolio

India's Jobless Rate Stood at 5.6% in June, Government Says
India's Jobless Rate Stood at 5.6% in June, Government Says

Bloomberg

time4 days ago

  • Business
  • Bloomberg

India's Jobless Rate Stood at 5.6% in June, Government Says

India's jobless rate remained steady at 5.6% for those aged 15 years and above in June, data from the Statistics Ministry showed Tuesday. The overall unemployment rate in urban areas inched up to 7.1% from 6.9% in May, while it was 4.9% in rural areas, the government said. Youth unemployment for those aged between 15-29 years was at 15.3% in June, compared to 15% the previous month, according to the survey.

Economists expect jobs market flatlined, unemployment rose in June
Economists expect jobs market flatlined, unemployment rose in June

Yahoo

time11-07-2025

  • Business
  • Yahoo

Economists expect jobs market flatlined, unemployment rose in June

OTTAWA — Statistics Canada is set to report employment figures for June today. A Reuters poll of economists expect the pace of hiring stalled in June, with no change in employment predicted, according to LSEG Data & Analytics. Economists also expect the jobless rate rose a tick to 7.1 per cent last month. Trade-sensitive sectors such as manufacturing and transportation have faced job losses in recent months as Canada's tariff dispute with the United States hampers the economy. Last month, U.S. President Donald Trump doubled tariffs on steel and aluminum to 50 per cent and signalled this week that he intends to levy matching tariffs on copper imports. The June jobs numbers will be the last look the Bank of Canada gets at the labour market ahead of its next interest rate decision on July 30. This report by The Canadian Press was first published July 11, 2025. The Canadian Press

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