UK unemployment rate unexpectedly rises to 4.7% in May
The UK jobless rate increased in May, average weekly earnings eased and the number of job vacancies, in another sign that the labour market is cooling, data on Thursday showed.
According to the Office for National Statistics, the UK jobless rate picked up to 4.7% in the three months to May, from 4.6% in the period to April. It had been expected to remain at 4.6%, according to consensus cited by FXStreet.
Average weekly earnings in the three months to May cooled to 5.0% on-year from 5.4% in the three months to April. Excluding bonuses, average regular pay growth cooled to 5.0% from 5.3%.
Payrolled employees shrunk by 25,000 in May from April, and by 135,000 on year. The early estimate for June showed it decreased by 178,000 on-year and by 41,000 on-month.
In addition, the ONS said: ‘The estimated number of vacancies in the UK fell by 56,000 on the quarter, to 727,000, in April to June 2025. This is the 36th consecutive period where vacancy numbers have dropped compared with the previous three months, with vacancies decreasing in 14 of the 18 industry sectors. Feedback from our vacancy survey suggests some firms may not be recruiting new workers, or replacing workers who have left.’
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