14 h. ago ALEX BRUMMER: Despite the economic gloom, there ARE signs of recovery. But I fear Rachel Reeves is about to spray weedkiller all over the green shoots

Just when you thought things couldn't get any worse, now the Office for National Statistics has reported that the unemployment rate has risen to 5 per cent, the highest for four years.

Events

20 h. ago Unemployment in Wales sees big rise and is now the highest of any UK nation

Unemployment in Wales has increased to 5.7% shows new figures from the ONS

Politics

32 h. ago UK unemployment rises to 5%, the highest level in four years

ONS says jobs market worsening before budget, as HMRC reports falling number of workers on firms’ payrollsBusiness live – latest updatesUnemployment in the UK has risen by more than expected to the highest level in four years, official figures show, amid a worsening slowdown in the jobs market before Rachel Reeves’s autumn budget.With under three weeks to go before the chancellor’s tax and spending statement, figures from the Office for National Statistics (ONS) show the headline unemployment rate rose to 5.0% in the three months to the end of September, up from 4.8% in the previous quarter. Continue reading...

Politics

2 w. ago UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits record high – business live

Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...

Economics

2 w. ago UK manufacturers hit by largest drop in orders since 2020; FTSE 100 hits fresh record high – business live

Shares in oil companies jump after US sanctions Russian energy firms, while manufacturers see weak prospects aheadYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, the MPC may want to see s...

Economics

2 w. ago UK manufacturers hit by largest drop in orders since 2020; Oil price jumps after Rosneft and Lukoil sanctioned – business live

British manufacturers see the weakest prospects for orders since Covid-19 pandemic, CBI reports, after demand weakened in last three monthsYesterday’s weaker-than-expected UK inflation report has sparked chat that the Bank of England could cut interest rates sooner than expected.Deutsche Bank say there is now an “interesting debate” on whether there may be enough ammunition for the Bank’s monetary policy committee to cut borrowing costs as soon as its next meeting in early November.What’s the case for November? Relative to the Bank’s projections, growth has surprised to the downside, private sector AWE growth has surprised to the downside, unemployment has risen in line with Bank expectations, and inflation now sits a healthy amount below the Bank’s projections. Indeed, one could make the argument that the ingredients for a November rate cut are there.So, why not November? We think three things will be important for the MPC to see before dialling down restrictive policy again. One, ...

Economics

4 w. ago FTSE 100 Live 14 October: Jobless rate rises, easyJet leads index as builders rally

Unemployment has risen to its highest level since the pandemic with more than 1.7 million people looking for work.

Society

4 w. ago FTSE 100 Live 14 October: Jobless rate rises, index lower as gold falls from record

Unemployment has risen to its highest level since the pandemic with more than 1.7 million people looking for work.

Society

4 w. ago Unemployment rises to more than 1.7million as Budget jobs fall out gathers pace

Hard hit hospitality sector sees 59,000 jobs lost in past year according to ONS data

Economics