Unemployment rises as pay growth slows again

The UK's unemployment rate has risen, official figures suggest, while pay growth continues to slow.

The rate of unemployment stood at 4.3% in the three months to September, up from 4% the previous quarter.

However, the Office for National Statistics (ONS) urged caution over giving too much weight to its latest jobs figures due to issues with how it gathers the data.

While wage growth has eased, pay is still rising faster than inflation, which measures the rate of price increases.

Excluding bonuses, pay grew at an annual rate of 4.8% between July and September - the lowest in more than two years.

The number of vacancies also fell again, as they have been doing for more than two years.

But Liz McKeown, director of economic statistics at the ONS, pointed out that the total still remains a little above pre-pandemic levels.

However, slowing wage growth and fewer roles comes as businesses are set to be hit with a hike in National Insurance and minimum wage increases from April.

Some supermarkets and big retailers have suggested they might have to cut back on hiring, or raise the price of their goods to manage increased costs.