UK unemployment increases to 2.64m
UK unemployment stands at its highest level since 1994 as it rose by 128,000 in the three months to October to 2.64 million.
According to The Office for National Statistics the jobless rate increased by 0.4% from the previous quarter to 8.3%.
Youth unemployment now stands at 1.027 million, the highest since records began in 1992, rising to 22% in the three months to October from 20.8% three months earlier. More than 40% of this population have now been jobless for more than 6 months.
There are now 1.6 million people out of work and claiming Jobseeker’s Allowance, an increase of 3,000 in November, although the rate of increase in the claimant count suggested this may be slowing down. This rise was much less than the predictions of economists who expected the figure to be in the region of 15,000.
The latest rise in joblessness took a heavier toll on men, an 83,000 increase in male unemployment, in comparison with a 45,000 rise in women. However, the proportion of 16 to 64-year-old women who are economically inactive fell to 29.1%, the lowest percentage since records began in 1971.