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Unemployment increases by 137,000 Unemployment increases by 137,000
(10 minutes later)
The number of people out of work rose by 137,000 to 1.86 million in the three months to October - the highest level since 1997.The number of people out of work rose by 137,000 to 1.86 million in the three months to October - the highest level since 1997.
This took the unemployment rate up to 6% and up from 5.8% previously, the Office for National Statistics saidThis took the unemployment rate up to 6% and up from 5.8% previously, the Office for National Statistics said
People claiming Jobseeker's Allowance in November rose 75,700 to 1.07 million - the largest rise since March 1991.People claiming Jobseeker's Allowance in November rose 75,700 to 1.07 million - the largest rise since March 1991.
Several companies have announced big job cuts as the economic downturn begins to hit hard.Several companies have announced big job cuts as the economic downturn begins to hit hard.
These people are not scroungers. They are blameless victims of a worldwide economic downturn and deserve to be treated as such TUC General Secretary, Brendan Barber
"It's obviously very, very weak. I think what's interesting is the scale of job losses this early in the cycle," said George Buckley, an economist at Deutsche Bank."It's obviously very, very weak. I think what's interesting is the scale of job losses this early in the cycle," said George Buckley, an economist at Deutsche Bank.
These people are not scroungers. They are blameless victims of a worldwide economic downturn and deserve to be treated as such TUC General Secretary, Brendan Barber
"Unemployment is normally a lagging indicator so to see so many job losses this early in the cycle is extremely worrying.""Unemployment is normally a lagging indicator so to see so many job losses this early in the cycle is extremely worrying."
The pound hit another record low against the euro after the unemployment data underscored just how weak the UK economy is.The pound hit another record low against the euro after the unemployment data underscored just how weak the UK economy is.
The number of people claiming unemployment benefit rose for a tenth consecutive month and climbed above the one million mark for the first time in eight years.The number of people claiming unemployment benefit rose for a tenth consecutive month and climbed above the one million mark for the first time in eight years.
HSBC, Leyland and Spanish bank Santander, which runs Abbey, Alliance & Leicester and parts of Bradford & Bingley, are among the many firms to have announced job cuts in recent monthsHSBC, Leyland and Spanish bank Santander, which runs Abbey, Alliance & Leicester and parts of Bradford & Bingley, are among the many firms to have announced job cuts in recent months
Blameless victimsBlameless victims
The trades union umbrella body the TUC has predicted two million people will be out of work by Christmas, and says half a million people will be facing their second Christmas out of work.The trades union umbrella body the TUC has predicted two million people will be out of work by Christmas, and says half a million people will be facing their second Christmas out of work.
It is calling for Jobseeker's Allowance to be raised from £60.50 to £75 a week.It is calling for Jobseeker's Allowance to be raised from £60.50 to £75 a week.
"These people are not scroungers. They are blameless victims of a worldwide economic downturn and deserve to be treated as such," said TUC General Secretary Brendan Barber.
Employment Minister Tony McNulty says unemployment figures were 'disappointing'Employment Minister Tony McNulty says unemployment figures were 'disappointing'
"These people are not scroungers. They are blameless victims of a worldwide economic downturn and deserve to be treated as such," said TUC General Secretary Brendan Barber.
"As well as more support to get back into work, unemployed people need more immediate financial support to help them cope with life on the dole.""As well as more support to get back into work, unemployed people need more immediate financial support to help them cope with life on the dole."
Managers are expected to be hit hard by job cuts, with the Management Consultancies Association forecasting up to 360,000 will lose their jobs by 2010.Managers are expected to be hit hard by job cuts, with the Management Consultancies Association forecasting up to 360,000 will lose their jobs by 2010.
The government is to unveil a new training scheme for the unemployed.The government is to unveil a new training scheme for the unemployed.
It has allocated £158m to help those who have been made redundant develop new skills.It has allocated £158m to help those who have been made redundant develop new skills.
The fund is supposed to make it easier for workers to get advice on training and support employers who want to improve the skills of their staff.The fund is supposed to make it easier for workers to get advice on training and support employers who want to improve the skills of their staff.