The number of unemployed in the UK has hit a 17-year high of more than 2.5 million and pushed the unemployment rate to 8%, official data showed Wednesday.
The rate for the three months of November to January rose from the 7.9% reported last month for the three months of October to December, inclusive. Britain reports its jobless figures on a constantly rolling three-month window.
Gains in the number of people working in the private sector were not enough to offset growth in the labor pool and public sector job cuts, causing the increase in the unemployment rate, the Office for National Statistics said.
The total number of workers actually rose by 32,000, better than the 27,000 increase that economists had been expecting. But it wasn't enough to keep pace with the labor force, which grew by 93,000.




8Likes
LinkBack URL
About LinkBacks


Reply With Quote
Not really 



Bookmarks