UK unemployment Rises to Highest Rate in 2 Years!

Filed in archive Economy on January 20, 2006

Numerous sources reported the dismal performance of the employment market in the UK.

Concerning the recent unemployment figures Britain?s Margaret Hodge, the Minister for Employment and Welfare, said that the figures were 'disappointing' and that the government had to do more.

The HRM Guide reported that "The unemployment rate has increased to 5.0% - the highest rate for 2 years. 28.8 million people were in work in the period September to November according to the labour force survey (LFS). "

"The number of people in employment fell by 22,000 over the three months to August but is up 221,000 over the year, to reach 28.76 million," says Incomes Data."The unemployment rate, on the ILO definition, was 5.0 per cent in the three months to November 2005, up 0.4 per cent from the three months to August 2005 and up 0.3 per cent over the year. The level stood at 1,528,000 in the three months to November."

The government's national statistic site comments that, "The trend in the employment rate may be starting to fall, while the trend in the unemployment rate is increasing. The count of people claiming Jobseeker's Allowance benefit increased for the eleventh month in succession, and the trend is increasing. The number of job vacancies has fallen. Growth in average earnings, both excluding and including bonuses, has fallen."

On all fronts this wasn't the best news that the labour market in the UK could have received. We'll keep a close watch on this story.