UK Jobless Rate Hits 5-Year High
The unemployment rate reached 5.2 percent in the three months through December — a 0.2 percentage point jump from the prior quarter — as the number of people out of work swelled to 1.883 million, data from the Office for National Statistics (ONS) showed.
The broader labour market picture offered little comfort. The employment rate held at 75.0 percent, while economic inactivity climbed to 20.8 percent, underscoring persistent weakness across the workforce. Total employment stood at 34.244 million, the ONS confirmed.
The figures arrive as the Bank of England cautioned that conditions in the jobs market have deteriorated — and that the situation could worsen. The central bank warned that labour market conditions have loosened and that further weakening in labour demand could lead to a more pronounced rise in unemployment.
The latest reading marks a sharp signal for policymakers navigating slowing growth and uncertain business confidence, with the jobs data likely to factor heavily into upcoming interest rate deliberations.
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