Posted 3/12/2024, 8:23:00 AM
UK Job Market Shows Signs of Slowdown as Unemployment Rises and Wage Growth Slumps
- Unemployment rose to 3.9% in January while wage growth slowed to 5.6%
- There are signs of weakness in the UK labour market, reflecting the economic slowdown
- The number of advertised vacancies fell by 43,000, indicating the recession took a toll
- More people are leaving the labour market due to ill-health, making it hard for employers to hire
- The government is urged to support people back into work as inactivity levels rise
