LABOUR stood accused of being growth-killers last night as unemployment rose to the highest rate for nearly five years.
The jobless rate hit 5.1 per cent in the three months to October in further signs of the Labour market weakening.
It marked the highest rate since early 2021 but outside the pandemic it was the highest since the first part of 2016.
Young people were particularly struggling with 85,000 increase in those unemployed aged between 18 to 24 in the three months to October.
The unemployment and wage growth figures could see the Bank of England cut interest rates when they make their latest decision tomorrow.
Alex Hall-Chen, of the Institute of Directors, said the figures were an indictment of the government’s employment policies.
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She said: “These figures are an indictment of the government’s approach to employment policy.
“The combined effect of the Employment Rights Bill, employer’s National Insurance increase, and above-inflation increases to the National Living Wage are stifling employer demand for labour.”
Shadow Welfare Secretary Helen Whately said: “Losing your job is hard at the best of times, but in the run up to Christmas it’s particularly cruel.
“But thanks to Labour’s growth-killing policies, that’s the sad reality for many people this Christmas.”
Welfare Secretary Pat McFadden said: “There are over 350,000 more people in work this year and the rate of inactivity is at its joint lowest in over five years.
“But today’s figures underline the scale of the challenge we’ve inherited.
