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Long-term unemployment on the rise

The number of people unemployed for more than 12 months rose by 37,000 in the three months to December, figures from the Office for National Statistics reveal.

The number of people out of work between October and December was 663,000, the highest figure since the three months to September 1997.

The number of unemployed was 2.46m in the three months to December, down 3,000 from the three months to September but up 448,000 from a year earlier.

The rate of UK unemployment has remained unchanged at 7.8%.

The number of people claiming Jobseeker’s Allowance between December and January rose by 23,500 to reach 1.64m, the highest figure since April 1997, following two months of consecutive falls.

Unemployment for 18 to 24 year olds went from 738,000 in the three months to September to 725,000 in the three months to December 2009, a fall of 13,000.

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Neptune video: a bull case for US equities?

Watch Felix Wintle, head of US equities at Neptune, discuss why he believes US equities are in a structural bull market and the key factors that can drive the S&P 500 higher.

In the video, Wintle addresses the following:

• The US market and why — despite equities rising from 2009 — he believes the structural bull market only started in 2013
• Key economic and corporate factors that can drive the S&P 500 higher
• Investment themes and sectors offering exposure to the domestic recovery

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