UK unemployment hits 5% for 1st time since early 2021
Unemployment in the UK has climbed to 5%, the highest it's been since early 2021.
That means more people are out of work, and company payrolls shrank by a total of 64,000 over September and October.
The total number of employed folks is now down to 30.3 million.
Pay growth slows down
Pay growth also slowed a bit, dropping from 4.7% last quarter to 4.6%.
So, not only are jobs harder to find—pay isn't rising as fast either.
What does this mean for you?
With Chancellor Rachel Reeves set to announce her budget on November 26, these numbers have everyone watching closely.
The pound has slipped against the dollar (now at $1.3123), and some experts think the Bank of England might cut interest rates soon after a close vote last time around.
If you're planning your next move or just keeping an eye on money matters, these shifts could affect everything from job hunts to financial planning.