The number of jobseekers is rising at a time when job opportunities are few and far between, indicating that uncertain economic prospects are affecting working lives, the BBC reported.
It found that between December and February, there were 220,000 more people than in the previous three months, with unemployment rising slightly and job openings falling for the ninth straight time. British Office for National Statistics (ONS, Office for National Statistics).
However, statistics show that the employment rate has also increased as more people have returned to the workforce. Overall, UK economic growth has been stable since spring 2022, with higher energy prices and interest rates pushing up their numbers with strikes in many sectors.
In addition to this fact, companies also deal with economic problems. According to the British Insolvency Service, there was a sharp rise in the number of companies filing for bankruptcy in March, against 1,784 registered in February.
Inflation has recently hovered above 10%, close to a 40-year high, and the latest earnings figures indicate that wage increases have continued to lag behind rising prices.
Difficulties are increasing especially among the unemployed. Between November and January, the UK employment rate rose to 75.8%, while the unemployment rate rose to 3.8% in the same period, compared to 3.7% in the previous three months, the ONS said.
As job openings fell for the ninth straight time, the justification given by companies was that economic pressures prevented them from hiring new workers.
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