UK unemployment increases to 2.62 million

UK unemployment rose by 129,000 in the three months to September to 2.62 million, as youth unemployment rose above the one million level.UK unemployment increases to 2.62 millionThe jobless total for 16 to 24-year-olds hit a record of 1.02 million in the quarter and female unemployment was at its highest for 23 years.

The Office for National Statistics (ONS) said the jobless rate hit 8.3%.

The number of people out of work and claiming Jobseeker’s Allowance rose by 5,300 to 1.6 million in October.

The news comes as the Bank of England’s governor Sir Mervyn King said Britain’s economy could stagnate until the middle of next year.

The Bank cut its 2011 and 2012 growth predictions to about 1%, warning the global economic outlook had “worsened”.

The news from the latest labour market figures is gloomy. The rise in the claimant count (those signing on for Jobseeker’s Allowance) of 5,300 in October was less than expected and well within margins for error in a total of 1.6 million.

There were slightly fewer redundancies in the three months to September than in the previous three months.

But there was record youth unemployment.

The number of workforce jobs is the lowest since 2004 despite the increase in population.

Insufficient jobs are being created because of low growth and that seems unlikely to change next year.

The unemployment rate of 8.3% is the highest since 1996 and the total number of unemployed people the highest since 1994.

The number of women out of work increased by 43,000 to 1.09 million, the highest level since February 1988.

The unemployment rate was highest in the North East, at 11.6% and lowest in the South East at 6.3%.

The number of people in work was also down 197,000 on the quarter.

At the same time, the number of self-employed people reached a record high of 4.09 million.

If you have recently been made redundant and are looking for a new way to earn money- why not click on earn money– or you could just pick up the phone and give Andy a call on 01451 832 206 or Andy’s mobile 07747 035 208 for an informal chat about the opportunities available to you.

November 16, 2011 · Home Based Jobs · Comments Closed
Tags: , , , , ,  · Posted in: Earn Money, Full Time Jobs, Part Time Jobs, Redundancy, Self Employment, Uncategorized, Unemployment Rises