According to labor market data from the British Office for National Statistics (ONS), the employment rate in the country increased by 0.2 percent in the last quarter of last year compared to the previous quarter with 75 percent.

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Unemployment in this period decreased by 0.2 percent to 3.8 percent. Unemployment in the last quarter of last year was unchanged compared to the same period in 2022.

Regular salaries of employees in the UK, excluding bonuses, increased by 6.2 percent year-on-year in the last quarter of last year.

The annual increase in average salaries including bonuses was 5.8 percent in the same period. The wholesale, retail, hotel and restaurant sector saw the highest annual increases in salaries with 7.2 percent, followed by manufacturing with 6.9 percent and finance with 6.7 percent.

Real (inflation-adjusted) total and regular salaries increased by 1.4 percent and 1.8 percent year-on-year, respectively.