The unemployment rate in Britain rose to 4.3% in the three months until the end of July, according to what official data showed, while the increase in salaries remained at a record level.
The unemployment rate reached 4.2% at the end of the second quarter of this year, which ended in June.
On the other hand, average wages, excluding bonuses, increased by 7.8% on an annual basis in the period from May to July, the fastest pace of increase since these data began being recorded in 2001.
In this regard, Chancellor of the Exchequer, Jeremy Hunt said, “Wage growth remains high, which partly reflects the disbursement of salaries to public sector workers in one lump sum, but for real wages to grow sustainably, we must adhere to our plan to halve inflation”.
British Prime Minister Rishi Sunak pledged shortly after taking office in October 2022 to reduce inflation by half, after it had exceeded 10% at the time.
The UK’s inflation rate, at 6.8%, remains the highest among the G7 countries.