UK unemployment rate rises in latest ONS data – latest

We’re getting more reactions to today’s latest unemployment data.

Paul Novak, general secretary of the TUC (Trades Union Congress), said the government should now prioritize helping those who are not in work.

“As the economy begins to recover, so will the jobs market – and it is welcome that vacancies now appear to be stabilising. But with unemployment rising and real wage growth slowing, the priority will be to boost demand,” he said.

“This week, the Bank of England needs to support the economy by cutting interest rates further – making it easier for companies to invest and for households to spend.

“And as the recent economic downturn continues to impact the labor market, it is important that people who are out of work get the help they need.

“Real work experience is the best way to help young people who are starting out, and the new Youth Guarantee could be a huge step forward in improving young people’s prospects.

“Let’s be clear – good quality jobs are the foundation of a strong economy, and go hand in hand with high productivity growth. That’s why the Employment Bill of Rights is so important.”

Political correspondent for The Independent milly cook Report:

A minister has insisted the Government is “absolutely focused on getting more jobs, better paying jobs” into the UK economy after new figures revealed. UK Unemployment It has increased to 5.1 percent in three months till October.

Asked whether he accepted that unemployment had increased under Labour, Stephen Kinnock told Sky News: “We have also created hundreds of thousands of new jobs in our country. We have the highest growth rate in our country.”

But when pressed again on whether he accepted that unemployment had increased, he said: “Well, the way to create more jobs is to create growth, and that’s what this government is absolutely focused on, with billions of pounds of extra investment.”

He said: “Our whole focus is on getting more jobs, better paying jobs. We’ve also seen the minimum wage rise significantly, so we’re dealing with the cost of living. We, of course, want more jobs in our economy, but we want them to be good paying jobs where people are actually able to get on in life and climb that ladder. That’s what this Labor government is about.”

Young people have been particularly hard hit by the faltering labor market, new ONS data shows.

Unemployment for those aged 25 to 34 rose by 47,000, while it was 28,000 higher for those aged 16 and 17.

Across the market, vacancies declined slightly between September and November, down 2,000 to 729,000.

ben harrisonThe director of the Work Foundation at Lancaster University, the leading think tank on improving working life in the UK, said there were now 546,000 young people aged 18-24 unemployed – the highest since 2015 and up by 85,000 on the quarter.

“The most worrying thing is that it is becoming increasingly difficult for these workers to access work,” he said. “Long-term unemployment increased by 93,000 over the year, with the increasingly competitive jobs market increasing the challenge of finding work as vacancies decreased by 78,000 over the year.

“On the day the Government announces the Milburn Review into youth unemployment, these figures also highlight the difficult jobs market young people face, and signal that policymakers must increase the pace of their industrial strategy to increase the number of secure, well-paid jobs and introduce additional tailored employment support to help people get back into work quickly.”

Britain’s attractiveness as a destination for entrepreneurs and investment has been badly hit Rachel Reeves’s budgetAccording to a reputed international index.

The latest annual Nomad Capitalist Passport Index suggests that tax rises have increased barriers to employment for people and the abolition of non-dom status in the UK has caused harm. Country’s reputation abroad.

The index showed that Britain is set to fall 14 places from 21st to 35th in 2024.

Political editor of The Independent david maddox There’s more below:

Analysis from The Independent’s business and money editor carl matchet,

Unemployment in the UK has been rising steadily since the middle of last year – it stood at just 4.1 per cent in the summer of 2024 – but the rate of unemployment growth has also been rising rapidly recently.

Outside of Covid, where unemployment briefly peaked at 5.3 per cent, the last time it was at this level was in the first three months of 2016, almost a decade ago.

As well as rising unemployment, today’s data shows that wage growth remains slow – although at 4.6 per cent it is still above the inflation rate.

Beyond the obvious concern about fewer people working, the immediate impact of this data is likely to be another strong check in the box for an interest rate cut on Thursday.

The Conservatives blamed Labour’s “growth-killing policies” for the rising unemployment figures.

Shadow Work and Pensions Secretary Helen Whiteley said: “Losing your job is difficult at the best of times, but it is particularly cruel in the run-up to Christmas.

“But thanks to Labour’s growth-killing policies, that’s the sad reality for many people this Christmas.”

He pointed to increased employer national insurance contributions and measures included in the Employment Rights Bill.

Shadow Business Secretary Andrew Griffiths said Labor was “adopting a raft of anti-business policies that are putting employers in trouble”.

The Work and Pensions Secretary said figures showing the unemployment rate at its highest level for almost five years reflected the “scale of the challenge” Labor was inheriting.

Pat McFadden said: “There are 350,000 more people out of work this year and inactivity rates are the lowest combined in five years, but today’s figures underline the scale of the challenge we have inherited.

“That’s why we’re investing £1.5 billion to deliver 50,000 apprenticeships and 350,000 new workplace opportunities for young people – giving them real experience and an foot in the door.

“To move forward and tackle the deep-rooted issues of our labor market, Alan Milburn is also leading an inquiry into the whole issue of young people’s inactivity and worklessness.”

The ONS chief has said the latest unemployment figures are evidence of a “weak” labor market.

Following the release of its latest figures on Tuesday morning, Liz McKeown, ONS director of economic statistics, said: “The overall picture remains of a weak labor market.

“The number of employees on payroll declined again, reflecting slower hiring activity, while companies told us there were fewer jobs in the latest period.

“This weakness was also reflected in the increase in the unemployment rate while vacancies remained broadly stable.

“The decline in payroll numbers and the increase in unemployment have been seen particularly among some younger age groups.”

The Office for National Statistics said Britain’s average regular income growth fell to 4.6 per cent in the three months to October and was 0.9 per cent higher after taking consumer price index inflation into account.

The Office for National Statistics said the UK unemployment rate rose to 5.1 per cent in the three months to October, from 5 per cent in the three months to September.