Jobless predicted to hit three million

Legal & General has warned that over three million people could be unemployed by the end of 2012.

Figures from the Office for National Statistics last week revealed that the unemployment rate for the three months to November 2011 was 8.4% – up 0.3% on the previous quarter.

The total number of unemployed increased by 118,000 over the quarter to reach 2.68 million.

John Pollock, group board director at L&G’s risk businesses, says: “The latest unemployment figures support our view that the next 12 months will be difficult.

“We predict unemployment will continue to rise further next year, and by the end of 2012 there could be over three million people unemployed.”