Gavin Grey: UK Correspondent on the rise in the unemployment and inactivity rates in the UK

Unemployment is hitting the UK hard. 

It’s unexpectedly risen to its highest level for two and a half years, climbing to 4.4% in the three months to April. 

On the other hand, wage growth has remained strong and is outstripping inflation, having increased at an annual rate of 2.9%. 

UK Correspondent Gavin Grey told Mike Hosking the other striking figure is the inactivity rate, which is the number of people of working age who are not actively looking for work. 

He said that it’s standing at one in five, the highest level in nearly a decade. 

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Episode Transcript

Speaker 1 (00:00):
Now I might Kevin, guys will us given morning on.
So the unemployment's good for the Bank of England because
they want to squeeze the economy, so then start cutting
the interest rate. It's not good if you're trying to
get reelicted. I assume no.

Speaker 2 (00:13):
And this set of announcements just release show that unemployment
has climbed to four point four percent in the three
months to April, but that is the highest for two
and a half years. The good news for people in
their wage packets is that wage growth has continued to
remain strong and is outstripping inflation. Regular earnings excluding bonuses

(00:34):
rising at six percent a year, unchanged from the previous month,
but of course once impact of inflation is stripped out,
the pay is increased at an annual rate of two
point nine percent. That is the highest for nearly three years.
So good news. But of all the figures that have
come out, one thing absolutely striking here, Mike. There's been
another increase in the so called inactivity rate that are

(00:56):
the basically the number of people of working age who
are not actively looking for work, and that figure stands
at one in five of working age people, the highest
level in nearly a decade. Why was since the pandemic.
There are a lot of long term sick people, it's
being said, other people who want to retire early, and
quite like the fact that during COVID they didn't have

(01:18):
to go into work as it were. Either way, it's
something any government here is going to be very worried
about it.

Speaker 1 (01:23):
It's a problem. And I've watched the video of this painting.
Mean that these people turn up gaven with beckpecks and stuff.
Doesn't anyone look and go jeez, that guy looks like trouble.

Speaker 2 (01:33):
Yeah, it quite extraordinary. This took place at a London
art gallery. It is the first official portrait of King
Charles and of course if you've seen it, it was
pretty controversial, lots of vivid red colors and it split
the art critics world. But either way, two people have
walked into the London Art Gallery and attached posters, one

(01:54):
of them over the King's face with a picture of Wallace,
the character from Wallace and Grommet animation, and also a
speech bubble effectively criticized in the RSPCA, the Raal Society
for the Prevention of Cruelty to Animals, which has King
Charles as its patron. The protesters are angry with the
RSPCA because they say that their Farm Assured status, which

(02:17):
is supposed to represent farms that uphold the highest levels
of animal husbandry. They're saying, you know, an undercover investigation
has shown, quite frankly, that the scheme isn't doing what
it's supposed to do and isn't being monitored properly. Well,
I pleased to say that the picture was covered in
glass and the things that they stuck were onto the glass,

(02:37):
so it looks like the painting is all right. But
this is the long line mark in the latest attack
on artwork to raise a particular issue.

Speaker 1 (02:44):
Well, it's a pleasure. Mike Kevin Gray out of Britain
for US this morning.

Speaker 2 (02:47):
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air or online and

Speaker 1 (02:51):
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