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Unemployment rate rises in the United Kingdom

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Unemployment rate rises in the United Kingdom

London, Nov 15 (Prensa Latina) The unemployment rate in the United Kingdom increased more than expected between last July and September, reaching 3,6%, the Office for National Statistics (ONS) reported.

According to the official body, the figure represents a slight increase from the 3,5% recorded in the previous quarter, and is a consequence of a reduction in the number of jobs available in the labor market.

Job vacancies continue to fall back after their recent peak, and more and more employers are telling us that economic pressures are determining factors in their decision to hold back on hiring (more workers),said, Darren Morgan, head of economic and labor statistics at the ONS.

Chancellor of the Exchequer Jeremy Hunt, who is due to unveil Thursday’s draft budget with which the Conservative government plans to attack inflation and the cost-of-living crisis, reiterated Tuesday that he will be forced to make tough decisions on taxes and public spending.

In response to the tax hikes and social cuts predicted by Hunt, Labour MP Rachel Reeve said the UK is paying for the economic mistakes made by the Conservatives during their 12 years in power.

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