Wage growth cools more than expected as Rachel Reeves tax increases add to labour market slowdown
Unemployment in the UK rose in April to the highest level in almost four years, official figures showed, as tax increases introduced by Rachel Reeves added to a broader slowdown in the jobs market.
In a blow for the chancellor before Wednesday’s spending review, the Office for National Statistics (ONS) said the jobless rate increased to 4.6% in the three months to the end of April, up from 4.5% on the previous three-month period to hit the highest level since summer 2021.
