Wednesday, 14 December 2011

Unemployment continues to rise and public sector takes the brunt

Unemployment continues to rise as figures out this morning show that at 8.3 per cent,it is now at its highest rate since 1994.

The Office for National Statistics said that the number of people out of work in the three months to October rose by 128,000 to 2.638 million, although those claiming new benefit appears to be levelling off.

Many economists had feared a much larger rise to 8.4 per cent.

Seperate figures from the ONS show that public sector employment dropped to its lowest level since September 2003 in the third quarter of 2011, falling by 67,000 to 5.987 million.

In the same period the increase in private sector jobs was barely 5,000.

Youth unemployment rose to 1.027 million, the highest since records began in 1992, beating the previous record set only last month.

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