The UK’s unemployment rate has risen to 4.8% in the third quarter of this year (July to September), up from 4.5% as coronavirus continued to hit the jobs market.
The unemployment rate was in line with analysts’ expectations. The figures reflect a wave of job cuts made by employers as they prepared for the phasing out of the government’s furlough scheme — which was due to close at the end of October but has been extended until the end of next March.
Redundancies climbed to a record high of 314,000 in July to September — a rise of 195,000 from the previous year and 181,000 from the previous quarter, the Office for the National Statistics (ONS) said.
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