Wages rise by more than expected but unemployment also grows, Office for National Statistics figures show

, according to the Bank of England, which believes the jobless rate could hit 6.5%.

The rate is the single most important interest rate in the UK and determines the rate the Bank of England pays to commercial banks that hold money with them. It influences the rates those banks charge people to borrow money or pay on their savings.government's growth plan exacerbated problems as financial markets called into question the UK's economic credibility, making imports more expensive through a collapse in the value of the pound.

, the chancellor, will deliver his autumn statement to MPs on Thursday with little firepower to help alleviate the overall pain.'Taxes will increase for everyone'Rishi SunakIt is believed the package will be designed to save about £50bn from annual borrowing in the medium term. "Restoring stability and getting debt falling is our only option to reduce inflation and limit interest rate rises."Shadow chancellor Rachel Reeves said:"Today's figures press home the knock-on impact of 12 years of Tory economic mistakes and low growth.

Putin doesn't even recognize the EU, so Our Rishi will just be a gnat on the wall - Hooray!

Whose wages?...I can tell you now its not the majority of working people getting pay rises, it will be high earners that are being paid more, minimum wage hasn't changed!

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Wages rise by more than expected but unemployment also grows, Office for National Statistics showWage growth picked up by more than expected over the three months to September, according to official figures also showing a rise in the jobless rate. Well yes - that’s obvious, this is the outcome that has been commentated on for months. Negative growth, lack of work force and cost of living increase. But in real terms they’ve fallen. The increase started with HGV1 drivers when they new there was a shortage of drivers. With the trend is still following across the employment sector. My firm gave out a 12% bin men only got 4% as many only got.
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Millions of workers face pay cut as wages fall 2.7% - what it means for youMILLIONS of workers are facing a cut to pay as inflation eats into household earnings. New figures released today by the Office for National Statistics (ONS) show that regular pay in…
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