The rate of UK unemployment was 3.7% in the three months to January, unchanged from the previous three months, the Office for National Statistics said
However job vacancies fell by more than 51,000 to 1.1 million, the eight consecutive month that they have fallen reflecting uncertainty across industries, as ONS respondents cited economic pressures as a factor in pausing or refraining from hiring.
The figures also showed there were 220,000 days lost to strike action in January, down from 822,000 in December, with schools the hardest hit.
Commenting on the figures,Ben Harrison, Director of the Work Foundation at Lancaster University, says:
Today’s figures show the tough choices facing the Government at this week’s Budget to drive economic growth.
“Despite economic inactivity falling and employment growing, vacancies remain above pre-pandemic levels with employers struggling to fill 1.1 million posts. Although wage growth is strong, many workers are poorer than a year ago with real wages falling by 2.4% on the year and those in the public sector are hit hardest.
“The Government is right to focus on supporting those on Universal Credit with childcare costs to encourage people into work. Work Foundation research has shown working mothers with young children are 2.7 times more likely than fathers to experience severely insecure work – in large part due to the constraints they face when it comes to unaffordable or unavailable childcare provision.
“But there is no case to introduce yet further punitive sanctions into the welfare system which will be both costly and inefficient for workers and businesses alike, and is guaranteed to increase anxiety for some of the most vulnerable households in the country. Instead the Government should prioritise cancelling the Energy Price Guarantee to provide further support for low income households.”
