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Highest Unemployment Since Covid 'Stark' News For UK Economy
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UK unemployment rose more than expected, prompting traders to add to bets on a Bank of England interest-rate cut next month. The jobless rate climbed to 5% in the three months through September, up from 4.8% the month before and the highest since early 2021 when the economy was under Covid restrictions, the Office for National Statistics said Tuesday. Economists had forecast a rise to 4.9%. Separate tax-based data showed the number of employees on payroll fell 32,000 in October following a downwardly revised 32,000 in September. Neil Carberry - the CEO of the Recruitment and Employment Confederation joins Caroline Hepker and Tom Mackenzie on Bloomberg Radio to discuss.
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