UK unemployment jumps to 5%

Britain’s unemployment rate rose more than expected to five percent in the third quarter, the highest level since early 2021, official data showed Tuesday ahead of a key UK government budget.

The rate increased from 4.7 percent in the second quarter, the Office for National Statistics said, ahead of the Labour government’s annual budget due November 26 which is set to feature tax rises amid weak UK economic growth.

Details soon…