Britain's unemployment rate rose more than expected to five percent in the third quarter, the highest level since early 2021, official data showed Tuesday ahead of a key UK government budget.

The rate increased from 4.7 percent in the second quarter, the Office for National Statistics (ONS) said, ahead of the Labour government's annual budget due November 26 which is set to feature tax rises amid weak UK economic growth.

Analysts' consensus forecast for the third quarter, running from July to September, had been for an increase to 4.9 percent.

"The number of people on payroll is falling, with revised tax data now showing falls in most of the last 12 months," ONS director of economic statistics Liz McKeown said in comments accompanying the latest figures.

The data deals a further blow t

See Full Page