Rising Unemployment Shows Signs of Slowing
Latest ONS Statistics Show Slowdown in Jobless Rates
The recent rise in unemployment in the UK shows signs of slowing, figures show. Unemployment increased by its slowest rate for 18 months in the third quarter of the year, hitting a lower than expected total of 2.46 million, according to the Office for National Statistics (ONS).
At the same time, the number of people in work increased by 6,000 to 29 million, the first quarterly rise since the summer of 2008.
Gloom for Young Unemployed
However, whilst the overall rate of increase is slowing, the position of the young unemployed is worsening and this group appear to be bearing the major brunt of the recession. ONS figures show youth unemployment has risen by 15,000 to 943,000.
Out of Work for 12 months
The figures also showed that the number of people who have been out of work for longer than a year rose by 71,000 to 618,000 in the three months prior to September, the highest level for 12 years.
Whilst slowing unemployment can be met with some enthusiasm, the reality of these figures shows that unemployment rates are still a long way from recovery.
Written by on November 13th, 2009
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