British Unemployment Hits 17-Year High

Unemployment

The UK saw the number of its unemployed rise by 114,000 over the summer, reports the Telegraph.

The percentage of unemployed now stands at 8.1 per cent, exceeding expectations of analysts and representing the highest unemployment rate since 1994. The rate of unemployment in the U.S. is currently 9.1 per cent, a level that prompted Barack Obama to attempt to push through his doomed jobs bill.

Over 1.6 million people in the UK are claiming jobseekers’ benefits (out of an approximate population of 60 million). Youth unemployment also reached a record high for the country.

Reuters reports that the government’s cut of public sector jobs is largely to blame for the decline in employment figures. It also says that this may not be the high point for unemployment and that the UK should expect worse figures to follow in the coming months.

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