The UK unemployment rate rose to 8% in the three months to the end of January, lead by the highest number of out of work young people since records began.
Total unemployment hit 2.53m, with an additional 27,000 people out of work, according to the Office for National Statistics' latest labour market statistics. The number of unemployed people aged 16 to 24 increased by 30,000, bringing the rate to 20.6%, the highest figure since comparable records began in 1992. However, the number of people claiming Jobseeker's Allowance fell by 10,200 between January and February 2011 to 1.45m. Bonuses within the finance and business services sector drove the earnings annual growth rate for total pay to 2.3% for the three months to January 2011, up...
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