URGENT: UK Unemployment Surges to 5% Amid Worsening Jobs Crisis.

Breaking News: UK Unemployment Surges to 5% Amid Worsening Jobs Crisis The UK unemployment rate has risen to 5% in the three months to September, according to new figures from the Office for National Statistics (ONS). This marks the highest rate since the period covering December 2020 to February 2021. The unemployment rate increase is higher than expected, surpassing the 4.9% projection by many analysts ahead of the Budget on November 26. Average wage growth has also slowed down to 4.6% in the third quarter, down from 4.7% over the previous three months. The ONS warns that the unemployment rate should be treated with caution due to concerns about the quality of the data. The Bank of England has projected that the unemployment rate will remain close to 5% for the next few months. The number of job vacancies remains broadly unchanged, but the overall labour market is showing signs of weakening. The ONS is taking additional steps to address concerns about the data quality. This is a developing story, and we will provide updates as more information becomes available. The UK government is expected to address the jobs crisis in the upcoming Budget, and we will bring you live coverage of the event.