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World

Reeves’s jobs tax is beginning to bite

13 May 2025

6:59 PM

13 May 2025

6:59 PM

Figures just released by the Office for National Statistics (ONS) show the UK unemployment rate has risen to 4.5 per cent, the number of people on company payrolls has dropped by 63,000 over the past year, and there are 131,000 fewer job vacancies than at this time last year.

Today’s employment data covers the period up to March – before the rise in the minimum wage and the Chancellor’s £25 billion national insurance hike took effect.

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