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UK jobless rate highest in almost five yearsUnemployment rate hit 5.1% in October-DecemberBut payrolls have risen in last two months, after tumbling in pandemicONS: labour market may be stabilising8.11am GMT
This chart shows how UK payrolls (a good measure of employment) tumbled last year, before rising slightly in December and January:
7.48am GMT
Jonathan Athow, the UK’s deputy national statistician, says there are “tentative” signs that the UK’s labour market was stabilising at the end of last year, given the rise in company payrolls in the last two months:
Commenting on today’s labour market data, Deputy National Statistician for Economic Statistics Jonathan Athow said: (1/3) pic.twitter.com/vK3SSf6UUY
Jonathan Athow added: (2/3) pic.twitter.com/AvdIsDrvGZ
Jonathan Athow continued: (3/3) pic.twitter.com/ZHqQDnJWXG
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