The unemployment rate in the United Kingdom rose to 3.7 percent in the three months ending in October, up from 3.6 percent in the three months ending in September.
The Office for National Statistics in Britain said, on Tuesday, that all age groups of working age have witnessed a rise in the number of unemployed.
Despite its rise, the UK unemployment rate is near its lowest levels in decades, with job supply still strong with over 1.18 million vacancies.
The average gross wage among employees grew by 6.1 percent in the three months ending in October, unchanged from the three months ending in September 2022.
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But in real terms (adjusted for inflation) over the year, both aggregate and ordinary wages fell by 2.7 percent, close to the sharpest drop in the last 21 years.
The decline in real wages is due to high inflation rates in the United Kingdom, as the annual rate of consumer price inflation rose to its highest level in 41 years at 11.1 percent in October.
And last month, UK Finance Minister Jeremy Hunt said “tough but necessary” decisions were needed to tackle rising prices.
