With finance minister Jeremy Hunt set to raise taxes and cut spending on Thursday to fix the public finances, potentially deepening an expected recession, the jobless rate rose to 3.6%, pushed up by a rate of 3.8% in September alone.The number of people in employment fell by 52,000 in the July-to-September period, the Office for National Statistics said, a bigger decline than the median forecast in the Reuters poll for a 25,000 drop.
The Bank of England fears that Britain's shrinking labour market will add to inflation pressures, forcing it to raise interest rates even as the economy heads into an expected recession.
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