The UK’s unemployment charge rose to five.1 per cent final month – near a five-year excessive – with Covid persevering with to pummel the economic system, new figures present.
The Workplace for Nationwide Statistics (ONS) mentioned the unemployment charge was up 0.4 share factors on the earlier quarter and 1.3 share factors greater than a yr earlier.
In a slither of excellent information, the ONS mentioned there have been 83,000 extra folks in payrolled employment in January in comparison with December 2020 – the second consecutive month-to-month enhance – however this was nonetheless down 726,000 because the begin of the pandemic.
Jonathan Athow, deputy nationwide statistician on the ONS, mentioned the information urged the employment market was levelling out after a tough 12 months.
He mentioned: “The newest month-to-month tax figures present tentative early indicators of the labour market stabilising, with a small enhance within the numbers of staff paid by means of payroll over the past couple of months – although there are nonetheless over 700,000 fewer folks employed than earlier than the beginning of the coronavirus pandemic.
“Nearly three-fifths of this fall in staff because the onset of the pandemic got here from the under-25s, in accordance with a brand new age breakdown we’re publishing for the primary time as we speak.
“Our survey exhibits that the unemployment charge has had the largest annual rise because the monetary disaster.”
The ONS information confirmed the UK employment charge for the three months to December was 75 per cent, 1.5 share factors decrease than a yr earlier and 0.3 share factors decrease than the earlier quarter.
There have been an estimated 599,000 vacancies within the UK within the three months to January, 211,000 fewer than a yr in the past and 64,000 greater than the earlier quarter.
Progress in common complete pay (together with bonuses) amongst staff for the three months to December elevated to 4.7 per cent, and development in common pay (excluding bonuses) additionally elevated to 4.1 per cent.
Rishi Sunak, the chancellor, mentioned: “I understand how extremely powerful the previous yr has been for everybody, and each job misplaced is a private tragedy.
“That’s why all through the disaster, my focus has been on doing all the pieces we will to guard jobs and livelihoods.
“On the Funds subsequent week I’ll set out the subsequent stage of our Plan for Jobs, and the assist we’ll present by means of the rest of the pandemic and our restoration.”