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Unemployment rises in the UK

Published: Thursday, 12 June 2008   Category: Graduate Job sector Reports

Worryingly for graduates currently sitting their final exams, unemployment in the UK rose again during the month of May.

Latest figures released today by the Office for National Statistics indicate that the number of people out of work increased by 38,000 to 1.64 million between January and April.

Although the number of people at work in the UK was up by 76,000 to 29.55 million, an extra 9,000 were forced to make a benefit claim during the three month period.

Trade Union Congress general secretary Brendan Barber said the rise in unemployment was a cause for concern at a time when there was “little economic cheer".

He stated: "The priority for economic policy makers is to make sure that ordinary people at work and home-owners do not end up paying the price for excessive risk taking and poor regulation in the banking sector."

The Times reported today that City experts are predicting a flurry of job losses in the next two years.

Philip Shaw, an economist at leading City bank Investec was quoted as saying unemployment was "likely to continue to rise, and at a faster rate".

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