The rate of unemployment in the UK has risen to its highest level since the CV19 pandemic, according to official figures.
The Office for National Statistics (ONS) said that unemployment rose to 5% in the three months to September, up from 4.8% in the second quarter.
It was the highest rate of unemployment since the UK was in the third pandemic lockdown in 2021.
Recent figures from HM Revenue & Customs show 180,000 payroll staff were sacked since October 2024, when the chancellor delivered her first budget.
Liz McKeown, director of economic statistics at the ONS, said that the figures “point to a weakening labour market” as Reeves prepares to deliver her second budget in just under two weeks.
FTSE100
The UK's flagship share index, the FTSE 100, was up 143 points at 9,884 shortly after opening this morning.
Brent crude oil futures were up 0.61% at $63.67 a barrel.
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