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World

Labour’s National Insurance hike is starting to bite

10 June 2025

5:32 PM

10 June 2025

5:32 PM

The unemployment rate has risen to 4.6 per cent, the Office for National Statistics has revealed. This morning’s figures mark the first proper reading of the jobs market since April, when the minimum wage was hiked and the £25 billion raid on employer national insurance started. It’s not just the joblessness rate rising: the number of payrolled employees fell by 55,000 between March and April, and by 115,000 compared to a year earlier.

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