Unemployment in UK reaches record high

The unemployment rate in the United Kingdom rose to a record 4.6% during the period from February to April 2025, the UK's Office for National Statistics (ONS) said.

Report informs via Euronews that unemployment increased by 0.1 percentage points compared to the previous year, marking the highest level since the summer of 2021.

The source notes that employers are reducing hiring amid rising payroll taxes and an increase in the minimum wage. In May, the number of employees on payroll fell by 109,000 — the sharpest drop since May 2020. The number of job vacancies also declined by 63,000.

Wage growth has slowed to 5.2% — the slowest pace in the past seven months.

In April this year, payroll taxes for businesses in the UK were raised to 15% for salaries exceeding £5,000 (approximately $6,700). In the same month, the government also increased the minimum wage and living wage for workers aged 21 and older.