Revealed: Latest unemployment figures plus claimant count numbers across the region
UK earnings growth slowed to its lowest for more than two years as the rate of unemployment – nationally and in the West Midlands – dropped, according to official figures.
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The Office for National Statistics (ONS) revealed that regular wage growth was 5.4 per cent year on year over the three months to June.
However, this slipped from 5.7 per cent in the previous three months and represented the smallest increase since the period to July 2022.
The data found that UK workers saw an average increase of 2.4 per cent once inflation was taken into account.
ONS director of economic statistics Liz McKeown said: “Basic pay growth, while remaining relatively strong, continues to slow.
“Growth in total pay slowed markedly, with last year’s one-off NHS bonuses affecting the comparison.”
The ONS also said the rate of unemployment was 4.2 per cent over the three months to June, dropping from 4.4 per cent over the previous three months. In the West Midlands, the figure stood at 4.9 per cent for April to June, down from 5.2 in March to May.
A consensus of economists had predicted an increase to 4.5 per cent, nationally, for the quarter.
The statistics body said it reported a broad decrease in unemployment among surveyed Britons over 25.
