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Unemployment Rises

Written By On 17/04/2013

The Office for National Statistics have released figures which reveals that unemployment in Britain increased by seventy thousand in the last quarter from 1st December 2012 to 28th February 2013. This is the highest rise since the middle of 2012 and brings the total out of work to over two and a half million giving a percentage rate of 7.9.

For the first time in eighteen months the number of people in employment fell marginally below thirty million which equates to a two thousand decrease in the last quarter. However, the 2.56 million unemployment figure is down on the same time last year by seventy one thousand.

The number of people in part-time jobs have decreased by sixty two thousand, bringing the total at the eight million mark. The full-time employment figure rose by sixty thousand to just over twenty one and a half million.

Labour would like to introduce 'salary loans' for the unemployed to help them with serious financial problems. The idea of the scheme named 'national salary insurance', is that people who have paid in adequate national insurance contributions would be able to claim up to nearly three quarters of their former salary, but no more than £200 per week, for up to six months.

The ONS official figures show that out of work sixteen to twenty four year olds increased by twenty thousand sending the figure to just below the one million barrier. London and the North East has the highest unemployment rate for this age group which stands at twenty five per cent, closely followed by West Midlands which stands at twenty three per cent.

Nine hundred thousand of the population have now been jobless for over a year which is an eight thousand rise on the previous quarter.

Alan Clarke, UK and Eurozone Economist at Scotiabank feels,

It's not a disaster, but a lot of the froth and really good news we had over the last year on jobs is becoming exhausted, which shouldn't be a surprise when there is not much growth around.