UK unemployment rockets by 5% as common earnings progress plummets to 4.6% in additional unhealthy information for Rachel Reeves

The rate of UK unemployment rose to 5 per cent in the three months to September, from 4.8 per cent in the three months to August, the Office for National Statistics said.

UK average regular earnings growth fell to 4. per cent in the three months to September and was 0.8 per cent higher after taking Consumer Prices Index inflation into account, the Office for National Statistics has said.

This marks the highest rise in unemployment in four years and comes just three weeks before Rachel Reeves is expected to announce tax rises in her upcoming budget.

The Chancellor is expected to raise taxes to plug a £30billion black hole in the country’s finances. 

In a further blow to the government, separate data shows that the jobs market has also slowed down sharply thanks to a number of factors including sluggish economic growth and persistent inflation. 

This is a breaking news story more to follow.