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Unemployment benefit claims rise again

The number of people now claiming jobless benefits in the UK rose by 5,300 in September with the figure now standing at 1.47 million. This was slightly higher than the 4,500 increase expected by economists in the UK and while overall unemployment in the quarter to the end of August actually fell by 20,000 to 2.45 million there are still major concerns going forward.

We must remember that the increase in those claiming unemployment benefit come before the majority of expected job losses in the public sector. A PwC report today suggests that unemployment in the UK could increase by up to 1 million between the public sector and the private sector. So while an overall reduction in unemployment in the three-month the end of August is encouraging we need to keep our feet firmly planted on the ground.

When you also take into account the reduction in consumer confidence and business confidence going forward, the situation does become worse and potentially catastrophic for many households around the UK. A recent report also confirmed that unemployment in the UK, measured by the number of households where one or more person is unemployed, is far worse than any other country in Europe.

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