United Kingdom Unemployment Rises To Over Three Percent
Written by Olarotimi Oshin on November 15, 2022
The United Kingdom unemployment rate has edged up to 3.6 per cent but remains close to the lowest level in almost half a century, official data showed today
The unemployment rate increased in the three months to the end of September from 3.5 percent in the three months to the end of August, the Office for National Statistics said in a statement.
According to the Office for National Statistics, the three point six percent increase witnessed in the unemployment rate is around the lowest level since 1974.
At the same time, sky-high inflation continues to squeeze wages, resulting in mass strike action across Britain.
The United Kingdom annual inflation stands at more than 10 percent, the highest level in four decades, and is forecast to keep rising along with unemployment as energy bills and food prices soar.