UK unemployment burdens economy

Unemployment in the UK has risen to four percent in the three months leading up to the end of May, according to official data released by the Office for National Statistics (ONS).

This marks an increase from the previous three months when the unemployment rate stood at 3.8 percent. The latest figures reveal the return of the unemployment rate to four percent for the first time since the beginning of 2022.

Analysts had anticipated that the rate would remain steady at 3.8 percent, highlighting the unexpected rise in unemployment. This comes as the UK economy grapples with persistently high inflation, posing challenges for the labour market.