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Cost of living bites harder as unemployment skyrocket in UK

UK unemployment edged higher in the three months to the end of February, official data showed Tuesday, as the economy continues to be impacted by high inflation.

The rate increased to 3.8 percent from 3.7 percent in the three months to the end of January, the Office for National Statistics said in a statement.

The ONS said the increase “was driven by people unemployed for up to six months”.

Darren Morgan, director of economic statistics, said the number of days lost to strikes picked up again in February.

Public and private sector workers have been striking since last year to try and win increases to pay, whose value has been eroded by elevated inflation.

“Pay continues to grow more slowly than prices, so earnings are still falling in real terms,” Morgan said.

He added that while job vacancies have fallen, they “remain at very high levels”.

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Nigeria's first exclusive online television news channel. We strongly uphold journalistic principles of TRUTH, BALANCE & FAIRNESS in our reportage & we believe there is no one side to a story.

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