UK unemployment levels rose in May, according to official figures released yesterday.
Around 6,000 more people were seeking employment in the three months to May compared to the previous period, to 1.43 million, although the jobless rate remains at 4.8%. The last rise was in June to September last year.
However, employment levels also fell by 29,000 in the same period, the first drop in nearly two years. At the same time, the number of people claiming unemployment benefit showed another fall, highlighting the differences between the various policies and measure on employment. There was a drop of 9,600 last month from May, taking the benefit claimant rate to a 29-year low of 2.7%.
The news follows last week’s reports that the US created less than half the number of jobs expected in June, raising questions there that the Fed’s increase in the interest rate may have come too soon for the US economy.
