Ryan FowlerThe latest figures from the Office for National Statistics (ONS) show a rise in unemployment and a decline in employment over the last quarter and year. Redundancies have reached 3.9 per thousand employees, and job openings have decreased consistently over 21 reporting periods.
Wage growth is currently projected at 4.8% annually if the present trend continues. The total number of hours worked weekly, which had been falling since mid-2022, increased this quarter to over 1.06 billion, more than the same period last year. This growth is attributed primarily to full-time workers, with the average weekly hours rising to 32.1.
The rate of redundancy reports has also risen this quarter, up 0.6 per thousand employees from the previous quarter.
TUC General Secretary Paul Nowak said: “Working people have suffered the longest pay squeeze in more than 200 years thanks to the Conservative government.
“Living standards are still on the floor. And now unemployment is rising – a real worry for families needing work and young people looking for their first job.
“We need a fresh start with a proper plan for jobs and growth to make sure family incomes can recover and everyone feels secure at work.”
On a new record high for people out of work due to long-term sickness, Nowak added: “NHS waiting lists are near record levels. But instead of taking responsibility, the Tories are attacking people who are too sick to work. The nasty party is back!
“Our NHS is crying out for the investment needed to get waiting lists back down. When people can access treatment faster, they will return to work sooner.”
