UK job vacancies reach record high as pay lags

Job vacancies in the UK rose to a record of 1.3 million in April, officials figures showed.

However, there was a further slowdown in the rate of growth, the Office for National Statistics said.

In a welcome dose of good news on the economy, the figures showed the number of UK workers on payrolls rose by another 90,000 ― or 0.3 per cent ― between April and May, to 29.6 million.

The unemployment rate edged up slightly to 3.8 per cent in the three months to April, from 3.7 per cent in the previous three months, though it remained close to 50-year lows.

Sam Beckett, head of economic statistics at the ONS, said the figures “continue to show a mixed picture for the labour market”.

She said: “While the number of people in employment is up again in the three months to April, the figure remains below pre-pandemic levels.

“Moreover, although the number of people neither in work nor looking for a job has fallen slightly in the latest period, that remains well up on where it was before Covid-19 struck.

“Job vacancies are still slowly rising too. At a record level of 1.3 million, this is over half a million more than before the onset of the pandemic.”

Britons saw increases in their pay packets fall behind soaring inflation at a record pace as the cost-of-living crisis tightened its grip on UK households.

The ONS revealed that regular wages excluding bonuses plunged by 4.5 per cent in April when taking Consumer Prices Index (CPI) inflation into account — the biggest fall since records began in January 2001.

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UK salary guide 2022: how much should you be earning?

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It comes as inflation has jumped to a 40-year high of 9 per cent due to soaring energy and fuel bills amid the impact of the Ukraine war, and as economies emerge from the pandemic.

The ONS data showed that, in the three months to April, regular pay excluding bonuses fell 3 per cent after the impact of inflation — the biggest fall since November 2011 — despite a 4.2 per cent rise in average earnings.

Chancellor Rishi Sunak said: “Today’s stats show our jobs market remains robust with redundancies at an all-time low.

“Helping people into work is the best way to support families in the long term, and we are continuing to support people into new and better jobs."

Alice Haine, Personal Finance Analyst at online investment platform Bestinvest, said: “While unemployment holding fairly level at 3.8 per cent, a record number of people on payrolls and a record number of job vacancies might sound like a good thing, the reality is that average pay is still struggling to keep pace with rampant inflation.

“Yes, average pay growth in February to April of 4.2 per cent might feel like a bumper salary increase but these are not normal times and with inflation hitting a 40-year high of 9 per cent in April, real wages declined on average by 2.2 per cent compared to a year ago.

“It means the spending power of households is now severely compromised and with inflation expected to surge to 10 per cent or higher in the fourth quarter — when Ofgem’s energy price cap increases to £2,800 — the situation will only get worse."

NBA FINALS SO FAR

(Toronto lead 3-2 in best-of-seven series)

Game 1 Raptors 118 Warriors 109

Game 2 Raptors 104 Warriors 109

Game 3 Warriors 109 Raptors 123

Game 4 Warriors 92 Raptors 105

Game 5 Raptors 105 Warriors 106

Game 6 Thursday, at Oakland

Game 7 Sunday, at Toronto (if needed)

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Oppenheimer

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Company%20Profile

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While you're here

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Sholto Byrnes: Washington tells South-East Asians to pick a side

KILLING OF QASSEM SULEIMANI

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Mina Al Oraibi: Air strike casts a long shadow over the decade ahead

Jack Moore: Why the assassination is such a monumental gamble

Matthew Levitt: Iran retains its ability to launch terror attacks

Damien McElroy: A CEO tasked with spreading Iran's influence

Hussein Ibish: Trump's order on solid constitutional ground

Simon Waldman: Cautious Israel keeping a low profile

Rashmee Roshan Lall: Sound of silence in South Asia

Fanar Haddad: The Iranian response will be gradual

THE BIO

Family: I have three siblings, one older brother (age 25) and two younger sisters, 20 and 13

Favourite book: Asking for my favourite book has to be one of the hardest questions. However a current favourite would be Sidewalk by Mitchell Duneier

Favourite place to travel to: Any walkable city. I also love nature and wildlife

What do you love eating or cooking: I’m constantly in the kitchen. Ever since I changed the way I eat I enjoy choosing and creating what goes into my body. However, nothing can top home cooked food from my parents.

Favorite place to go in the UAE: A quiet beach.

It Was Just an Accident

Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

Bahrain%20GP

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Explainer: Tanween Design Programme

Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.

The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.

It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.

The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.

Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”

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