A range of statistics released in April painted a picture of continued weakness in the UK labour market. The jobless rate has increased to 4.6% for the three months to April-end after the number of workers on UK company payrolls fell at the fastest rate since the height of Covid. Annual wage growth slowed to 5.2%, below forecasts. The data comes on the back of Chancellor Rachel Reeve's £25bn rise in the national insurance contributions required by employers, increasing the cost associated with hiring. Feedback from ONS surveys suggests that some firms may be holding back from recruiting new workers or replacing people when they move on. The data provides a key insight into the Bank of England's rate cut decisions, with a weakening jobs market suggesting further cuts may be ahead.