View more on these topics

Unemployment jumps to 2.5 million

The number of people unemployed in the UK has gone up by 43,000 between December and February to reach 2.5 million, data from the Office for National Statistics reveals.

The ONS says this is the highest figure since the three months to December 1994.

The unemployment rate for the three months to February was 8%, up 0.1% on the previous quarter.

Although the number of people unemployed for up to six months fell by 46,000 to 1.22 million, the number of those out of work for more than a year has increased by 89,000 over the quarter to reach 726,000.

The number of people claiming Jobseeker’s Allowance dropped between February and March to reach 1.54 million.

Arek Ohanissian, economist at the Centre for Economics and Business Research, says: “Today’s labour market statistics are a mixed blessing for the economy.

“The second consecutive monthly fall in the claimant count suggests that it has now potentially turned the corner.

“However, the facts that employment has yet to rise and unemployment has risen to its highest level in over a decade point to continued weakness in the labour market.”


Lenders that back brokers are finding it a profitable idea

It’s clear that lenders will soon have to realise that using mortgage brokers as a distribution channel is an effective way of increasing market share. Having more branches is not profitable. I’m still amazed at the number of lenders dual pricing. They should offer the same rates to brokers as that way they could cover […]

What attendees thought of the LendInvest Property Development Academy

LendInvest ran its first Property Development Academy in London last month. Attendees from all over the UK gathered to learn how to better equip themselves with the skills they need to grow their property development portfolios. Speakers from CBRE, Gleeds, Arcadis, Gowling, Residential Edge and AZ Urban Studio gave their insights into their respective fields […]


News and expert analysis straight to your inbox

Sign up
  • Post a comment
  • Marcus 21st April 2010 at 3:10 pm


    do i what i am going to to.

    Leave the country and find work elsewhere.


  • Agrieved 21st April 2010 at 1:18 pm

    A lot of people are losing their jobs discretely as work is going abroad. Lost my job twice due to work going to Bangalore. Never to be replaced a dwindling job market where only choice other than the dole is going self employed.