Wednesday, 15 December 2010

Unemployment rises unexpectedly

UK unemployment has risen back over the 2.5 million mark, fanning fears that Britain is suffering a "jobless recovery".
The number of people out of work in Britain rose by 35,000 in the three months to October, pushing the unemployment total up to 2,502,000. This raised the UK's unemployment rate to 7.9%, from 7.8% in the previous quarter, the highest rate in six months.
City economists had expected a 15,000 drop in the number of people out of work, which would have lowered the unemployment rate to 7.7%.
The rise was mainly due to a drop in public sector employment, where 33,000 jobs were lost over the period. Regionally, the north-east saw the biggest fall in public sector jobs, followed by the south-west and east of England

with courtesy of Guardian

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