UK Unemployment Rises To The Highest Level In 17 Years

Keep Calm And Carry On

British unemployment rose by 48,000 to 2.67 million in the three months to December.

The unemployment rate rose from 8.3 per cent to 8.4 per cent, the highest level in 17 years, according to the Guardian. British unemployment is now worse than American (8.3 per cent).

The UK saw 6,900 new jobless claims, worse than market estimates of 3,000.

This may be another sign that British austerity has backfired.

Despite the miss, the FTSE 100 is up 0.3 per cent, trailing a stronger rally on the continent.

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