UK unemployment rate rises slightly to 3.6%

The UK unemployment rate rose slightly to 3.6% in the three months to September, up from 3.5% in August, official figures show.

Meanwhile regular pay continues to lag behind the cost of living, falling by 2.7% in the year to September when adjusted for inflation.

It comes as the economy struggles with rising prices and interest rates.

The Bank of England has predicted that the UK is facing its longest recession since records began.

Chancellor Jeremy Hunt said: “Unemployment remains near record lows – providing security to families and testament to the resilience of the British economy even in the face of severe global challenges.

“But I appreciate that people’s hard-earned money isn’t going as far as it should. Putin’s illegal war has driven up inflation – a hidden and insidious tax that is eating into paychecks and savings.”