Unemployment remains steady but vacancy rates drop and pay growth slows
Unemployment remains steady but vacancy rates drop and pay growth slows
Business live – latest updates
Analysis: this is a slowdown, not a collapse
Employers have cut annual pay increases and pared back hiring in recent months as the economic slowdown took its toll on the jobs market.
Data from the Office for National Statistics (ONS), released on Tuesday, showed that UK unemployment edged higher in the three months to June but the official jobless rate was unchanged at 4.7%, a four-year high.
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Shops, restaurants and hotels particularly hit by slowdown in hiring, as unemployment remains at 5.1%
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Data suggests companies are not recruiting or are holding off replacing people who have left.
The rate of UK unemployment remained at 4.7 per cent in the three months to June, compared with the three months to May, the…
