Rise in unemployment slows
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The number of unemployed has climbed to 2.47 million yet despite the increase the pace of rising unemployment has slowed.
Some 88,000 more people were out of work in the three months to August compared with 210,00 for the three months to July, figures from the Office for National Statistics show.
The number of people unemployed for over 12 months was 599,000 in the three months to August, up 72,000 from the three months to May.
Unemployment for 18 to 24 year olds also increased 17,000 from the three months to May to 743,000 in the three months to August.
The rate of unemployment has now hit 7.9% for the three months to August.
Benjamin Williamson, economist at the Centre for Economics and Business Research, says: “The private sector has carried the vast majority of the increase in unemployment so far during the recession.
“But we expect this situation to change with a marked fiscal contraction and a swathe of public sector job cuts over the next few years.
“This will serve to suppress wage settlements and discretionary pay increases.”
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