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Unemployment rateUK unemployment rose by 118,000 in the three months to November to 2.685 million, official figures show.  The Office for National Statistics said the unemployment rate also rose to 8.4% from 8.3%, the highest since January 1996.

The number of people claiming Jobseeker's Allowance in December rose by 1,200 to 1.6 million. David Freeman from the Office for National Statistics says youth unemployment is at its highest since 1992. unemployment rate also rose to 8.4% from 8.3%, the highest since January 1996.

The number of people claiming Jobseeker's Allowance in December rose by 1,200 to 1.6 million.  The number of young people looking for work hit a new record of 1.043m, taking the rate for 16-24 year-olds to 22.3%. The number of people in employment rose slightly in the three months to November by 18,000 to 29.119 million.

These figures are not good news for the property market as it is likely to depress it further with less buyers about and likelyhood of more distressed sellers.

The leader of the Labour Party, Ed Miliband, said the government "was cutting too far and too fast" and accused the prime minister of being "out of touch", boasting about rising employment.

"Isn't the truth, the defining characteristic of this government, that it stands aside and does nothing as thousands of people find themselves unemployed?" he told the House of Commons.

In Scotland, the number of people out of work rose by 19,000 to 231,000 over the three months to November, giving a jobless rate of 8.6%.

In Wales, unemployment fell by 1,000 in the quarter to 130,000, giving a rate of 8.9%, while in Northern Ireland it fell by 7,000 to 59,000, giving a jobless rate of 6.8%.

Resources and Links:
http://www.bbc.co.uk/news/business-16610044
http://www.guardian.co.uk/news/datablog/interactive/2011/nov/16/youth-unemployment-map

 

 

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