In the three months to July, the UK unemployment rate stood at 4.7%, up from the previous three-month period.
Mean while, payrolled employment fell by 51,000 on the quarter.
Broadly, the suite of indicators published today are in line with Cebr expectations and point to a further softening of the UK labour market.
Subdued hiring appetite has drawn steam from the job market over recent months, as firms navigate elevated labour costs and lingering economic uncertainty.
Looking ahead, we anticipate further weakening, pushing the unemployment rate up to 4.8% at the end of the year.
Leave a Comment