AssetID: 55261434
Headline: UNCAPTIONED: UK Unemployment Rises To 5% As Labour Market Shows Signs Of Weakness
Caption: UK Unemployment Rises To 5% As Labour Market Shows Signs Of Weakness. The UK’s unemployment rate has climbed to 5% in the three months to September, the highest level since early 2021, according to new data from the Office for National Statistics. The rise was sharper than economists expected, surpassing the 4.9% forecast ahead of the upcoming Budget on 26 November. The figures suggest the jobs market is losing momentum, with average wage growth easing slightly to 4.6% from 4.7% in August. Liz McKeown, director of economic statistics at the ONS, said the data “points to a weakening labour market,” even though job vacancies remain broadly stable. The ONS cautioned that the figures should be treated carefully as it works to improve data accuracy. The Bank of England expects unemployment to hover around 5% for the next few years, underlining a period of slower economic growth and tighter labour conditions. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,UK,unemployment,rate,climbed,5%,three months,Office for National Statistics,wage growth,average,easing,jobs market,economy,Great Britain,weakening,labour market
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