Unemployment rises
Thu 15 May 2008
15/05/2008
The number of people currently unemployed has risen, according to the latest labour market statistics. The Office of National Statistics revealed 14,000 more people are unemployed and the claimant count has increased by 7,200 in the last quarter. "The labour market is now showing clear evidence of softening as markedly weaker growth and deteriorating business confidence impact," Howard Archer, chief UK and European economist at Global Insight, told the Times. The rate of people without work remained unchanged and employment increased by 117,000 to a record figure of 29.54 million. Excluding bonuses, earnings growth slightly exceeded the rate of inflation and remained at 3.8 per cent. International credit difficulties have weakened several UK banks and homeowners are concerned the huge returns they saw on their properties could soon disappear.
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