Recent data from the Office for National Statistics (ONS) reveals that London’s unemployment rate has surged to 5.5% for the June to August quarter, marking the highest level in nearly three years. This increase translates to 280,000 individuals seeking employment, contrasting with a slight decline in the national unemployment rate, which fell to 4.0%. London now holds the second highest unemployment rate in the UK, just behind the north east at 5.6%. However, the rise in unemployment may be attributed to more individuals re-entering the workforce rather than a decrease in job availability.
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