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UK unemployment rises to 2.47 million

UK unemployment hit 2.7 million in the three months to July which is an increase of 210,000 people. This is a figure which has not been seen since 1995 and is set to get worse before it starts to recover. As we covered in one of our earlier post, the ongoing issue of the welfare state in the UK is taking more and more money from the UK budget and leaving less money for other desperate services.

While many people believe the real unemployment figure in the UK is well in excess of 5 million people, even the official figure has risen substantially over the last few months. Even if the UK economy was to undergo a serious recovery over the next few months, there would still be a delayed reaction in the employment market with unemployment set to rise for the foreseeable future, no matter what the economic environment.

Unemployment is also a double edge sword because not only are there less people in work and paying tax to the UK government, but there are more people on the welfare state claiming anything from jobseekers allowance to housing benefit. The UK government is very much stuck between a rock and a hard place and finding it very difficult to make any headway at the moment.

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