Better-than-expected unemployment figures and a rosier growth forecast from the Bank of England raised hopes yesterday that Britain was beginning to claw its way towards economic recovery.
Analysts tore up previous warnings that unemployment would hit three million next year as official figures showed a significant slowing in the speed at which people are losing their jobs. Though the jobless total rose by another 30,000 to 2.46m in the three months to September, the rise was much smaller than the 65,000 predicted and represented the lowest quarterly increase for 16 months reports The Times. However, concerns persisted about the one in five young people out of work. The number of jobless 18 to 24-year-olds increased by 24,000 to 746,000, or 18%, the highest level since rec...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
