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Unemployment figures and parallel worlds
BBC website - UK unemployment rose by 128,000 in the three months to October to 2.64 million, the highest level since 1994. The Office for National Statistics (ONS) said the jobless rate was 8.3%, up from 7.9% in the previous quarter.
Youth unemployment rose to 1.027 million, the highest since records began in 1992, beating the previous record set only last month. The number of people out of work and claiming Jobseeker’s Allowance rose by 3,000 to 1.6 million in November.
However, the rate of increase in the claimant count showed signs of slowing down. The 3,000 rise was much less than the approximate 15,000 figure expected on average by economists.
DWP press release - Grayling: labour market shows signs of stabilising Employment Minister Chris Grayling said:
“There has obviously been an unwelcome increase in unemployment since the summer but these latest figures show some signs that the labour market is stabilising. The number of people in employment is higher than last month’s published figure and the number of unemployed people is steadying. Encouragingly this is also the case for young people not in education.
“The increase in those claiming Jobseeker’s Allowance has slowed and our welfare reforms are having a positive impact with overall benefit claimant numbers falling by around 40,000 in the last 18 months.”