Kathmandu. The unemployment rate in the UK has reached the highest level in the last 5 years.

According to the latest three-month labour market data, the unemployment rate has reached 5.2 percent. During this period, about 18 lakh 83 thousand people were unemployed. The data was released by the Office for National Statistics.

During the same period, the employment rate remained at 75 percent, while about 20.8 percent of the population is economically inactive, including students, chronically ill and those who are discouraged from looking for work.

According to experts, rising cost of living, slowing economic growth and decline in private sector recruitment are the main reasons for the rise in unemployment. The Bank of England has also expressed concern over the slowdown in the labour market.

The central bank has warned that job creation is likely to remain weak in the coming months, and unemployment could rise further. This situation may have an impact on the country’s overall economy, consumption capacity and tax collection.