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Unemployment Rises To A 14 Year High

Unemployment Rises To A 14 Year High

unemployment has risen to a 14-year high, taking the jobless rate to 7.9%, official figures show.

The number of people out of work grew by 210,000 to 2.47 million in the three months to July, according to the Office for National Statistics.

Claims for unemployment benefit in August grew by 24,400 from July to 1.61m, the highest since May 1997.

There have been signs the UK economy is beginning to pick up, but jobless data tends to lag behind other measures.

The number of 16 to 24-year-olds out of work rose from 928,000 to 947,000 - edging closer to the landmark of one million and adding to fears of a new "lost generation" of young people.

The jobless rate among this age group is at record 19.7% - the highest since records began - meaning one in five is looking for work.

Average earnings, including bonuses, increased by 1.7% in the three months to July, down from the previous month.

Budget deficit
Government spending to boost the economy boosted employment in the public sector by 13,000 in the three months to June, the figure showed.
This contrasted with a 230,000 fall in private sector workers over the same period, the ONS said.
There are fears that cuts in spending aimed at tackling the huge budget deficit will lead to job losses in the public sector.


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