United Kingdom unemployment rate has hit 3.6 per cent.
Gatekeepers News reports that the figure, however, remained close to the lowest level in almost half a century.
In a statement on Tuesday, the Office for National Statistics said 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.
At 3.6 per cent, it was around the lowest level since 1974.
Meanwhile, sky-high inflation continues to squeeze wages, resulting in mass strike action across Britain.
Director of Labour and Economic Statistics at the ONS, Darren Morgan, said “August and September saw well over half a million working days lost to strikes, the highest two-month total in more than a decade, with the vast majority coming from the transport and communications sectors.
“With real earnings continuing to fall, it’s not surprising that employers we survey are telling us most disputes are about pay.”
The UK annual inflation stands at more than 10 per cent, the highest level in four decades, and is forecast to keep rising along with unemployment as energy bills and food prices soar.
Consumers and businesses are set for a further hit Thursday in a government budget set to include tax rises as finance minister Jeremy Hunt seeks to shore up depleted state finances.
As Hunt prepares also to announce this week’s cuts to state departmental budgets, he said, “Tackling inflation is my absolute priority, and that guides the difficult decisions on tax and spending we will make on Thursday.
“Restoring stability and getting debt falling is our only option to reduce inflation and limit interest rate rises.”
