Sky Towering Unemployment In United Kingdom

By Author: Justin Henry
Total Articles: 23
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UK unemployment edged up by 48,000 to 2.67 million in the three months to December, official figures have shown, the smallest rise in almost a year. There is also a new record for the number of jobless young people. It’s a wakeup call to UK government to weed out the problem of unemployment. The devil of unemployment is raising its head high strongly these days in Britain. In last three months the numbers of unemployed is disappointing as it has rose above a million. According to the reports of ONS the rate of jobless is 8.3%. The numbers of unemployed for 16-24 years crossed 1.2 million. The highest figures of unemployed women too are gloomy. It has reached to 1.09 million. The number of people claiming Jobseeker's Allowance rose by 6,900 in January. Due to the lack of full time job, a record number of people are working part-time. However, the Government stated Wednesday's figures showed that the labor market was stabilizing despite continuing economic challenges.
The office of national statistics also showed average earnings grew by 2.3% in the year to September, down 0.4% on the previous month. Though number of ...
... unemployed is booming, the number of self-employed people reached a record high of 4.09 million. The TUC calculated that unemployment could be as high as 6.3 million in the UK. The north east of England has marked the highest rate of unemployment"
The British government is trying hard to tackle the problem by launching initiatives to help 350,000 young people into work. It is becoming a challenge for the government to reduce the numbers of unemployed. Government is being accused for creating a jobless generation, with more young people out of work than ever before. Are you unemployed and need cash the apply with text loans and get quick funds immediately.
Some economists are concerned that growth will stagnate further as unemployment is rising and wages increasing by less than inflation. Low wage growth and rising unemployment is a curse to the consumption growth. GDP rate of UK shrank by 0.2% in the last three months of 2011, indicating recession if growth contracts again in the coming quarter. However, there is a drop in the number of people categorized as long-term sick or retired, who went back into the workforce. Also the number of people classified as economically inactive has dropped.
A hope has been raised with the number of job vacancies rising to 476,000 in the three months to January. An expectation is build up that the economy will return to modest growth in the first quarter and avoid recession.

Justin Henry is expert financial advisor. He provides best views on finance. He writes articles on text loans @ http://www.textloansnow.co.uk/, immediate text loans and mini loans