Thursday, 17 September 2009
The UK unemployment rate witnessed its highest level since 1995, with 2.47 million out of work.
The Office for National Statistics reported that the number of people out of work increased by 210,000 in the three months since July, which caused the jobless rate to climb by 7.9 percent. It was 7.2 percent when compared with the three months to April.
The official figures have shown that the current unemployment rate is the highest on record since May 1995. Accordingly, one in five people aged between 16 and 24 is now looking for a job.
The estimations show that it will peak at 3 million people in 2010.
As the world economic crisis has had negative effects for sectors from banking to construction throughout the world, the UK economy is facing its worst recession in the last 50 years.
By Fatma Yilmaz-Elmas (JTW)
