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| UK jobless level increases again | UK jobless level increases again |
| (about 1 hour later) | |
| Unemployment in the UK rose by 12,000 to 1.62 million in the three months to May, the Office for National Statistics (ONS) has said. | Unemployment in the UK rose by 12,000 to 1.62 million in the three months to May, the Office for National Statistics (ONS) has said. |
| The rate of unemployment was 5.2%, unchanged on the previous quarter. | |
| The number claiming unemployment benefit rose by 15,500 in June to 840,100 - the biggest jump since December 1992. | |
| Employers have cut jobs in the face of rising energy costs, falling consumer confidence and a property slump. | |
| Job vacancies also fell by 32,200 to 655,100 between April and June. | |
| Analysts said the sharp rise in the number of people claiming benefits was a worry. | Analysts said the sharp rise in the number of people claiming benefits was a worry. |
| "The claimant count is the biggest in more than 15 years. While not vastly different from what was expected, it is a sign of things to come over the next year as the economy weakens," said Philip Shaw at Investec. | "The claimant count is the biggest in more than 15 years. While not vastly different from what was expected, it is a sign of things to come over the next year as the economy weakens," said Philip Shaw at Investec. |
| The jobless total compares with 1.64 million in the three months to April, when 38,000 jobs were lost. | The jobless total compares with 1.64 million in the three months to April, when 38,000 jobs were lost. |
| Some parts of the economy have been hit particularly hard, such as financial and housing sectors. | Some parts of the economy have been hit particularly hard, such as financial and housing sectors. |
| House builders have cut thousands of jobs over the past few months. | House builders have cut thousands of jobs over the past few months. |
| This month, house builders Bovis, Redrow, Barratt and Persimmon announced they would cut more than 2,000 jobs between them. | This month, house builders Bovis, Redrow, Barratt and Persimmon announced they would cut more than 2,000 jobs between them. |
| Although the most recent quarter's jobless data does not include these latest redundancies. | |
| Wages worries | |
| Annual average earnings growth over the period eased to 3.8% in May from 3.9% in April, the ONS said. | Annual average earnings growth over the period eased to 3.8% in May from 3.9% in April, the ONS said. |
| Analysts warned of further misery for consumers in the face of rising fuel and food bills. | Analysts warned of further misery for consumers in the face of rising fuel and food bills. |
| "With wages failing to keep pace with the cost of living and unemployment rising, the outlook for consumer spending remains grim," said James Knightley, an analyst at ING. | "With wages failing to keep pace with the cost of living and unemployment rising, the outlook for consumer spending remains grim," said James Knightley, an analyst at ING. |
| On Wednesday, thousands of local government workers went on strike in protest over wages which they say are not keeping pace with living costs. | |
| The rate of inflation hit an 11-year high of 3.8% in May, fuelling speculation that the Bank of England may consider raising interest rates. | The rate of inflation hit an 11-year high of 3.8% in May, fuelling speculation that the Bank of England may consider raising interest rates. |
| It is higher than the Bank's inflation target of 2%. | It is higher than the Bank's inflation target of 2%. |