The ONS said total employment fell in April for the first time in more than two years, down 136,000 from March. The job vacancy rate fell for the tenth straight time in the three months to April, reaching its lowest level since mid-2021. However, wage growth remains strong by historical standards. Wage growth is at the heart of the Bank of England‘s debate over whether to raise interest rates further.
Base wages rose 6.7 percent in the three months to March compared with a year earlier, a slight acceleration from the 6.6 percent rise in the three months to February.
Morgan, director of economic statistics at the ONS, said men were predominantly returning to work or looking for work, while a record number of people were out of work due to prolonged illness.
