{"id":23172,"date":"2025-11-14T11:43:27","date_gmt":"2025-11-14T10:43:27","guid":{"rendered":"https:\/\/latribune.lazardfreresgestion.fr\/?p=23172"},"modified":"2025-11-14T11:43:27","modified_gmt":"2025-11-14T10:43:27","slug":"united-kingdom-unemployment-hits-highest-level-since-2021","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/united-kingdom-unemployment-hits-highest-level-since-2021\/","title":{"rendered":"United Kingdom unemployment hits highest level since 2021"},"content":{"rendered":"<h2>Chart of the Week<\/h2>\n<p>The UK unemployment rate reached 5.0% in September, its highest level since 2021. This week, activity data also showed weaker-than-expected growth in the third quarter and a slowdown in September. PMI indices have been highly volatile in recent months, but suggest no significant change in the overall pace of growth.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-23173 size-full\" src=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2025\/11\/EN-GDS-1411.png\" alt=\"\" width=\"1176\" height=\"495\" srcset=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2025\/11\/EN-GDS-1411.png 1176w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2025\/11\/EN-GDS-1411-300x126.png 300w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2025\/11\/EN-GDS-1411-1024x431.png 1024w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2025\/11\/EN-GDS-1411-768x323.png 768w\" sizes=\"auto, (max-width: 1176px) 100vw, 1176px\" \/><\/p>\n<h3><b>OUR <\/b><b>ANALYSIS<\/b><\/h3>\n<p class=\"mb-2 whitespace-pre-wrap\">Unemployment\u2019s recent uptick comes alongside a slowdown in wages, which, excluding bonuses, are growing at their slowest pace since 2022.<\/p>\n<p class=\"mb-2 whitespace-pre-wrap\">With the UK\u2019s 2026 budget expected to include tax hikes, investors are increasingly betting on the prospect of interest rate cuts. For now, inflation is still too high for the central bank to move aggressively, but if softer wage growth ultimately helps bring price pressures down, the BoE could deliver more than the three cuts currently projected by the end of 2026.<\/p>\n<p>***<\/p>\n<p>Written on November 14 2025. Opinions subject to change.<\/p>\n<p>See also: <a href=\"https:\/\/latribune.lazardfreresgestion.fr\/en\/macroeconomic-focus-october-2025\/\">Macroeconomic Focus \u2013 October 2025<\/a><\/p>\n<p>This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. LAZARD FRERES GESTION \u2013 a simplified joint stock company with share capital of \u20ac14,487,500 \u2013 Paris Trade and Companies Registry No. 352 213 599. 25, RUE DE COURCELLES \u2013 75008 PARIS, FRANCE<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK unemployment rate reached 5.0% in September, its highest level since 2021. <\/p>\n","protected":false},"author":101016,"featured_media":23168,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[1911,1932,1924,1878],"class_list":["post-23172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week","tag-uk","tag-unemployment","tag-unemployment-rate","tag-united-kingdom"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>United Kingdom unemployment hits highest level since 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