Rise in UK unemployment and slowing wage growth add new pressure for interest rate cut | UK unemployment and employment statistics

Unemployment climbed and wage growth fell in the three months to May, according to official figures that will put pressure on the Bank of England to cut interest rates next moth.

Data from the Office for National Statistics, released on Thursday, showed that Britain’s official unemployment rate rose to 4.7% in the three months to May, up 0.1% from April.

Pay growth slipped from 5.3% to 5%, as forecast by City analysts. Unemployment had been expected to remain at 4.6% .

Vacancies in the UK fell in June to 727,000, marking the 36th consecutive month of decline in the number of jobs advertised by employers.

Against a backdrop of negative economic growth coupled with rising inflation, the figures are expected to give the Bank of England a headache before its next decision on interest rates…