[gpt]Rewrite this headline in 12 words or less: Rise in unemployment shows UK jobs market is cooling, but it is not collapsing[/gpt]

[gpt]Rewrite this article in 3-5 professional paragraphs with insights and context. Use

subheadings for each section. End with “Why it matters:” followed by one impactful sentence:

Despite latest poor data wage growth remains resilient, and there are ‘signs of confidence returning’

• UK unemployment rises as jobs market ‘weakens’

• ‘Worse for hospitality than Covid’: bosses blame Reeves’ budget for UK downturn

Anaemic economic growth, rising inflation, and a worsening outlook in the jobs market. If the inheritance from the Conservatives had been bad, the situation a year in to the new Labour government does not look much better.

The latest figures show unemployment nudged up to 4.7% in May, hitting the highest level in four years, while wage growth slowed for a third consecutive month, and employers cut back on hiring.

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Source: Politics | The Guardian