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UK unemployment rises as cost-of-living crisis worsens

The unemployment rate increased to 3.8 per cent from 3.7 per cent in the three months to the end of January, the Office for National Statistics (ONS) said in a statement

UK unemployment rises as cost-of-living crisis worsens

UK unemployment edged higher in the three months to the end of February, official data showed on Tuesday (18), as the economy continues to be impacted by high inflation.

The rate increased to 3.8 per cent from 3.7 per cent in the three months to the end of January, the Office for National Statistics (ONS) said in a statement.

The ONS said the increase "was driven by people unemployed for up to six months".

Darren Morgan, director of economic statistics, said the number of days lost to strikes picked up again in February.

Public and private sector workers have been striking since last year to try and win increases to pay, whose value has been eroded by elevated inflation.

"Pay continues to grow more slowly than prices, so earnings are still falling in real terms," Morgan said.

He added that while job vacancies have fallen, they "remain at very high levels".

(AFP)

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  • Quarterly profit surged to 344.4 m rupees from 100.4 m rupees year-on-year.
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Indian beauty retailer Nykaa has posted a more than three-fold increase in quarterly profit, driven by steady demand for makeup and skincare products and strategic partnerships with global brands.

FSN E-Commerce Ventures, which operates the Nykaa platform, reported a profit of 344.4 million rupees (£3.9 m) for the quarter ended 30 September, up from 100.4 m rupees a year earlier.

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