The UK unemployment rate has risen to its highest level since 2021, as traders increase their bets on the central bank cutting interest rates next month.

According to the Economic Information App, the UK's Office for National Statistics announced on Tuesday that for the three months leading up to September, the unemployment rate has risen to 5%, up from the previous month's 4.8%, reaching the highest level since the beginning of 2021 when the economy was under new crown restrictions. Economists had previously expected it to rise to 4.9%. Another set of data based on tax statistics shows that the number of employees decreased by 32,000 in October, with the September data also revised downward to a decrease of 32,000.