Unemployment edges up
May 12 2010
Unemployment is now at 2.51 million
Joblessness rose by 53,000 to 2.51 million over the three months to March.
However, the total number of people claiming unemployment benefits decreased by 27,100 in April compared to the previous month, according to official figures.
John Philpott, chief economic adviser at the Chartered Institute of Personnel and Development, says: ‘If David Cameron’s incoming coalition government wanted reminding about the economic policy challenge that lies ahead, it need look no further than today’s dire official jobs figures.
‘Combining the critically important task of cutting the fiscal deficit with the equally important challenge of restoring full employment will provide Cameron and his coalition partners with their sternest test.’
The Centre for Economics and Business Research, a think tank, suggesta that further rises in unemployment were inevitable as the Treasury prepares to cut £6 billion from government budgets. Private firms dependent on public sector contracts are ‘likely to face tougher times,’ it adds.
Unemployment is expected to reach 2.65 million by the end of the year, according to the British Chambers of Commerce,
There are currently no comments on this article
Comments