Unemployment Rate Hits Highest Outside Covid Years for Almost a Decade

A weakened labour market makee a year-end interest rate cut more likely. experts said Alamy/PA

The UK’s jobless rate has hit its highest level outside the pandemic era for nearly a decade as experts said the further evidence of a weakened labour market made a year-end interest rate cut more likely.

Official figures showed the rate of unemployment surged to 5% in the three months to September, up from 4.8% in the three months to August.