Unemployment in UK hits highest since 1995- “There are no signs of recovery here”
By Joshuah at 16 September, 2009, 7:00 am
Unemployment has jumped to its highest level since mid-1995, pushing the jobless rate up to nearly 8%, official data showed today.
The Office for National Statistics (ONS) said the jobless total on the broad International Labour Office measure rose by 210,000 in the three months to July, taking the total to 2.47 million. That rise was broadly in line with those of recent months and economists said there was little to suggest that the rises in unemployment were slowing.
The narrower claimant count measure, which only picks up those claiming unemployment benefit, rose by 24,400 in August to 1.6 million, the highest since May 1997, and a rate of 5%, the worst since September of that year. That increase was in line with those of the previous two months too.
The ONS also reported that average earnings growth slowed sharply to just 1.7% in the three months to July versus the same period last year, down from 2.5% in the three months to June.
TUC General Secretary Brendan Barber said: “There are now over a million people out of work for more than six months, one in three of them under 25. There are no signs of recovery here.
Source/Full Story:: guardian.co.uk
Technorati Tags: Unemployment
No comments yet.