Thursday 16 February 2012

Unemployment rises again


UK unemployment rose by 48,000 to 2.67 million in the three months to December, official figures have shown, the smallest rise in almost a year.

More alarmingly for the PA profession is that women made up two-thirds of that increase and there was a new record in the number of people working part-time who want full-time jobs.

The unemployment rate edged up to 8.4%, said the Office for National Statistics, which the highest for 16 years. There was also a new record for the number of jobless young people with an increase of number 22,000 to 1.04m 16 to 24-year-olds without a job. This figure includes young people in full-time education who are also looking for work.

With the number of job vacancies rising to 476,000 in the three months to January, economists suggested the worsening employment outlook had eased. Amidst hopes that the economy will return to modest growth in the first quarter and avoid recession..

Gareth Osborne of APA said: "The labour market remains bad and whilst it isn't signalling a return to recession it has a long way to go to support some of the more optimistic pundits.”

The figures came as the Bank of England published its quarterly report on inflation. It said the UK economy would "zigzag" this year, dipping in and out of growth, but avoid going back into recession.

APA

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