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Unemployment hits 16 year high

Just when Gordon Brown felt the tide was turning with regards to unemployment in the UK it has been revealed that unemployment increased by 43,000 in the three months to February, taking the total amount 2.5 million. This is a bitter blow for the government ahead of the election and opposition political parties are sure to make hay while the sun shines and attack Gordon Brown's handling of the UK economy.

The rate of unemployment in the UK now stands at 8% and even though the number of people claiming jobseekers allowance has fallen by nearly 33,000 over the period there are still concerns about the future. Despite the millions upon millions of pounds pumped into the UK economy it seems that job security is going to be a major problem in the short to medium term and we could see more significant pain before we see any reduction in the number.

In many ways this is payback for the UK government which appeared to be discounting any potential increase in employment in the short-term after the recent three months of reductions. Quite how Gordon Brown will defend his record at the next TV debate tomorrow remains to be seen because even though he will be in receipt of confidential economic data which neither opposition parties will have, that is not to say it will all be positive news.

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