{"id":2150,"date":"2025-07-17T07:06:09","date_gmt":"2025-07-17T07:06:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/2150\/"},"modified":"2025-07-17T07:06:09","modified_gmt":"2025-07-17T07:06:09","slug":"uk-jobs-market-cools-as-unemployment-rate-rises","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/2150\/","title":{"rendered":"UK jobs market cools as unemployment rate rises"},"content":{"rendered":"

The UK jobs market has weakened as the number of job vacancies continues to fall and wage growth slows, according to official statistics.<\/p>\n

The annual rate of pay growth in the three months between March and May slowed to 5%, the latest figures from the Office for National Statistics (ONS) show, while the unemployment rate rose to 4.7%.<\/p>\n

Meanwhile, the number of vacancies fell again to 727,000 for the April to June period, marking three continuous years of falling job openings.<\/p>\n

Economists say the Bank of England may choose to cut interest rates at its meeting next month to boost the labour market.<\/p>\n

Earlier this week, in an interview with the Times, the Bank of England governor Andrew Bailey indicated<\/a> there could be larger cuts to interest rates if the jobs market showed signs of slowing down.<\/p>\n

Most economists are predicting a cut – though some say it would be unwise to encourage spending while inflation is still rising<\/a>.<\/p>\n

The ONS said survey data suggested that some firms may not be recruiting new workers or replacing ones who have left.<\/p>\n

The number of job vacancies is now at its lowest in 10 years, excluding the plunge seen during the pandemic when lockdowns stopped firms from hiring.<\/p>\n

Alongside falling job openings, the unemployment rate has risen to 4.7%, the highest for four years, although the ONS has said this data needs to be treated with caution due to problems with how it is collected.<\/p>\n","protected":false},"excerpt":{"rendered":"The UK jobs market has weakened as the number of job vacancies continues to fall and wage growth…\n","protected":false},"author":2,"featured_media":2151,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[45,49,48,124],"class_list":["post-2150","post","type-post","status-publish","format-standard","has-post-thumbnail","category-jobs","tag-business","tag-ca","tag-canada","tag-jobs"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/2150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=2150"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/2150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/2151"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=2150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=2150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=2150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}