Pay growth eases to 3.4% as businesses face pressure from soaring energy costs

Survey shows businesses ‘struggling to absorb latest economic shock’, while data says April vacancies down 7.7%

Pay growth eases to 3.4% as businesses face pressure from soaring energy costs

UK unemployment unexpectedly jumps to 5% as the Iran war drives energy costs higher and wage growth slows to 3.4%, raising stagflation risks for crypto.

Rise in unemployment and weak pay growth underline how tough this year will be for UK households

Jobless rate unexpectedly rises to 5% and employment falls by 100,000, biggest drop in six years; economists say June interest rate hike looks less likely

One in 20 people in the UK is now unemployed, according to new figures

Britain's unemployment rate edged up to five percent in the first quarter of 2026, official data showed Tuesday, as the economic fallout from the Middle East war began to bite.

FILE PHOTO: Signs are seen outside a job centre in Borough, in London, Britain, Dec 1, 2024. [Photo/Agencies]

Inflation could hit 5 per cent by the summer, economists forecasts, as the full effects of Iran War take hold

The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation to 2.8% in April, down from 3.3% in March.

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Experts said the gloomy ONS figures showed the beginning of a hit to jobs from the energy shock caused by the Middle East conflict.

Britain's annual inflation rate fell more than expected in April, largely due to a drop in energy prices in the months before the Middle East war, official data showed Wednesday.