New numbers from the Office for National Statistics show that the unemployment rate in the United Kingdom has risen to 5%.
The last time unemployment was this high was in recent years was during the peak of the COVID pandemic, from October to December of 2020, when many sectors faced total shutdown and mass job losses.
At that time it reached 5.3% and now in the three months to September of this year it's hit 5%, after being forecast as 4.9% by most British analysts.
Wage growth was also down, but minimally, 4.6% in the third quarter from 4.7% over the three months to August.
Job vacancies were up slightly, up by 2000 between August and October compared to the quarter before, to a total of 723,000, which was the first increase in over three years.
These new insights into the employment market for the UK come ahead of their federal budget, set for 26 November.
“Taken together, these figures point to a weakening labour market,” director of economic statistics for the ONS, Liz McKeown, said to the BBC.
"Meanwhile the unemployment rate is up in the latest quarter to a post pandemic high. The number of job vacancies, however, remains broadly unchanged."
