British jobless figures crosses 2.5 Million mark

JNN 19 Jan 2011 : Britain’s unemployment figures have increased by 49,000 to 2.5 million mark, setting a record for the number of jobless youths,new figures revealed.

Latest figures show that one in 5 people aged between 16 to 24 are now unemployed, British media reported.

The figures also indicate an increase of 32,000 in the number of jobless to 951,000 in the third quarter, which is the highest figure since records began in 1992.

The Office for National Statistics (ONS) said in a report that less people are being given a job, redundancies are mounting as well and the number of people classed as economically inactive has reached 9.3 million.

The ONS has calculated an unemployment rate of 20.3 percent for 16 to 24-year-olds in the country.

The inactivity rate is now 23.4 percent after an 89,000 increase in the number of people classed as economically inactive, including students, those looking after a sick relative and people who have given up looking for a job, the report said.

“These figures serve to underline the scale of the challenge we face. We inherited the largest budget deficit in peacetime history and high levels of joblessness, which we are determined to bring down by rebalancing the economy and supporting private sector jobs growth”, said Employment Minister Chris Grayling.

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