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UK unemployment rate hits near five-year high as wage growth slows

Unemployment for 18-24s reaches 14% – the highest since 2020published at 08:31 GMT

We’re continuing to look through the figures released by the Office for National Statistics earlier and bring you any key lines.

The unemployment rate of people aged 18-24 in the UK has hit 14%, the data shows.

This marks a 0.3 percentage point increase from the three months to November, which saw an 18-24 unemployment rate of 13.7%

Aside from one three-month period in 2020 during the pandemic, which also saw 14%, the last time the UK saw a higher unemployment rate for 18-24s was in 2015.

For those aged 16-17, the unemployment rate is 34.2%, falling from 34.7% reported in the three months to November.

The ONS are set to release the latest figures looking specifically at the level of young people (16-24) not in education, employment or training, later this month.

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