Labour market | 'Quiet but urgent crisis': jobless rate climbs amid mounting pressure on employers

Britain’s jobs market show fresh signs of strain as new data from the Office for National Statistics (ONS) revealed unemployment has risen to 5%, its highest level since the pandemic. The figures, covering the three months to September, point to slowing wage growth and persistent employer caution ahead of this month’s Autumn Budget.

Regular pay excluding bonuses grew 4.6% during the same period, down slightly from 4.7% the previous quarter. Vacancies, meanwhile, were broadly unchanged - falling by just 2,000 - suggesting businesses are holding off on recruitment decisions amid uncertainty over tax and spending plans.