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Posted 6 years ago •
The February CBI/Pertemps Labour Market Update shows the highest rise in unemployment levels in five years.
However, there was also continued employment growth, possible as a large number of people economically inactive became employed or began looking for work.
Looking across the UK, two-thirds of the country saw a rise in employment and most saw little change in unemployment.
The labour market continues to send mixed signals with a continued softening of hiring intentions and vacancies, but easing pay pressures and a small decrease in long-term sickness for the fourth month in a row.
The labour market shows a gradual slowdown, with vacancies still above pre-pandemic levels, while pay rates remain high due to last year's inflation.
This month's labour market figures continue to show signs of gradual cooling, with the number of vacancies still falling and unemployment rising.