Business News Round Up (11/11/2025)
UK unemployment rate rises to 5% as jobs market weakens
The rate of UK unemployment has risen to 5% in the three months to September, showing signs the jobs market has weakened, according to new official figures. It is the highest rate since the period covering December 2020 to February 2021, according to the Office for National Statistics (ONS). The increase in the unemployment rate was higher than expected, coming in above the 4.9% projected by many analysts ahead of the Budget on 26 November. Average wage growth was 4.6% in the third quarter, down from 4.7% over the three months to August. Liz McKeown, director of economic statistics for the ONS, said: “Taken together, these figures point to a weakening labour market. Meanwhile the unemployment rate is up in the latest quarter to a post pandemic high. The number of job vacancies, however, remains broadly unchanged.”
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Insolvency-related activity increased by 26% in North West last month
The latest research shows that insolvency-related activity rose by 26% in the North West last month, says R3, the UK’s restructuring, turnaround and insolvency trade body. R3’s analysis of data provided by Creditsafe indicated an increase in insolvency-related activities from 350 in September to 442 in October. The North West figure is the second highest in the UK, behind Greater London with 474 instances. October’s figure also marks the highest monthly total since April 2025’s figure of 473, and an increase of one per cent on the same period in 2024. The figures, which include administrator and liquidator appointments together with creditors’ meetings, mark an increasing trend mirrored in most of the UK, with a decrease only in Wales. Fran Henshaw, chair of R3 in the North West, viewed the statistics as disappointing but not surprising.
UK retail spend slows ahead of Black Friday sales and Autumn Budget
UK retailers are experiencing the weakest sales growth since May, as shoppers await Black Friday deals and Budget decisions coming later in November. The British Retail Consortium revealed that total retail sales increased by 1.6% year-on-year in October, against a growth of 0.6% in October 2024. This was below the 12-month average growth of 2.1%. Food sales increased by 3.5% year-on-year in October, against a growth of 2.6% in October 2024. This was flat against the 12-month average growth of 3.5%. Helen Dickinson, chief executive of the British Retail Consortium, said: “October was a subdued month, with the weakest growth since May. Many delayed spending, waiting for Black Friday deals and cooler temperatures before buying toys, electronics and clothing. Furniture and other homeware fared better as people began preparing their homes ahead of family festive gatherings. Food sales also saw good growth, driven by higher prices rather than higher volumes.”
RSM: Scottish hotels see profits and rates rise in strong August
Scotland’s luxury and mid-market hotels enjoyed a rise in occupancy, room rates and profits in August year-on-year, with budget hotels also seeing growth in room rates and profits, despite a slowdown in the wider UK market, RSM Hotels Tracker: Focus on Asset Classes has revealed. The data, which is compiled and produced by Hotstats and analysed by RSM UK, shows average room rates of Scottish luxury hotels rose from £393.35 to £491.86 in August year-on-year, and from £164.69 vs £174.70 for mid-market hotels. Room rates in the budget hotel market also bucked the wider UK trend, rising from £140.59 vs £151.21 in the same period. Gross operating profits per available room were also up for Scottish luxury, mid-market and budget hotels, increasing from £254.25 to £328.93, £87.53 to £95.35, and £75.03 to £79.17 respectively in August year-on-year.