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UK Unemployment hits 2.56 million

The amount of people unemployed in the UK rose by 70,000 between December and February according to the Office for National Statistics (ONS).

The number of people employed in the UK also fell, meaning the unemployment rate currently stands at 7.9pc, raising further serious questions about the economic state of the UK. However the number of people claiming Jobseekers Allowance fell last month by 7,000, to 1.3m.

Other statistics make for grim reading too, with the ONS revealing that there are now 900,000 people who have been without a job for a year or more, an increase of 8,000 on the previous quarter. The number of people aged 16-24 who are unemployed rose too, by some 20,000, meaning there are now 979,000 in the UK.

Labours Shadow Work and Pension Secretary, Liam Byrne MP said: “Three years on it’s now clear the Governments plan is failing, and failing badly. Not only are more people unemployed than at the election, it’s soaring up”.

“With the IMF warning George Osborne to change course and unemployment getting worse, it’s clear the time has come for a fresh approach”, he added.

However unemployment is still 71,000 lower than the total a year ago and there has been a 62,000 reduction of people in part-time jobs, with a 60,000 increase in full-time employment.

If you are struggling financially with unemployment, or have any other financial issues, please contact one of our advisors who will be happy to help.

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