A small rise in the proportion of unemployed people in the UK could be a sign of worse things yet to come, economists have warned.
Official data released today (August 16) showed the UK’s unemployment rate increased by 0.1 percentage points to 3.8 percent from April to June. However, one expert believes that the figures could hit 5.3 percent - higher than the worst days of the pandemic.
After the data was released, Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said unemployment is set to rise sooner than forecasted by experts at the Bank of England (BoE). Mr Tombs said that demand for workers is starting to stabilise, just as more people are coming into the jobs market.
