Wednesday, 17 April 2013

Britain’s jobless rate soars to 7.9%; 2.6m unemployed

Britain’s jobless rate soars to 7.9%; 2.6m unemployed


The number of unemployed Britons has soared to 2.6 million - the worst quarterly rise since Autumn 2011 - mainly due to a hike in number of ‘stay-at-home mums’ seeking work at the job marker, official figures showed.


According to new figures the number of jobless people increased by 70,000 between December and February to 2.56million. Britain is now suffering an unemployment rate of 7.9 percent.

The Office for National Statistics (ONS) claimed in its report that a rise in the number of women re-entering the labour marker was to blame for the hike in the number of jobless Britons.

Those women who were previously classed as "economically inactive" are now becoming “unemployed”, according to the report.

Meanwhile, the report added, changes in the state pension age, which has increased significantly for women, have caused tens of thousands to abandon retirement plans and look for work.

Employment has virtually unchanged compared to the previous quarter, with around 29.7m people in work. The increase in the jobless toll is due to people previously classed as economically inactive - and so out of the labour market altogether - "re-engaging" with the jobs market, the ONS said.

Other figures showed the continued squeeze on workers' wage, which rose by just 0.8 percent, including bonuses between December and February compared to the same period last year.

The number of people working part-time because they could not find a full-time job rose by 21,000 to 1.4m, while long-term unemployment - those out of work for a year or more - rose by 8,000 to 900,000, showing further signs of stress in the labour market.

Youth unemployment rose further, while the number of over-50s out of work rose by 5,000 to 401,000, the ONS said.

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